AssignmentQ8.pdf - P2-5 (Algo) Recording Transactions,...

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8.Award: 0.50 points0.50 pointsP2-5 (Algo) Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing theP2-5 (Algo) Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing theBalance Sheet, and Evaluating the Current Ratio LO2-2, 2-4, 2-5Balance Sheet, and Evaluating the Current Ratio LO2-2, 2-4, 2-5[The following information applies to the questions displayed below.]Mango Inc., headquartered in Cupertino, California, designs, manufactures, and markets mobile communication and media devices, personalcomputers, and portable digital music players and sells a variety of related software and services. The following is Mango’s (simplified) balance sheetfrom a recent year (fiscal year ending on the last Saturday of September).MANGO INC.MANGO INC.CONSOLIDATED BALANCE SHEETCONSOLIDATED BALANCE SHEETSeptember 30, 2017September 30, 2017(dollars in millions)(dollars in millions)ASSETSASSETSCurrent assets:Current assets:Cash$14,074Short-term investments11,417Accounts receivable17,743Inventories2,141Other current assets24,220

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Term
Summer
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Tags
Balance Sheet, Generally Accepted Accounting Principles, Preparing Journal, Mango Inc

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