Ch.2 Q3.pdf - 10/24/2020 Assignment Print View P2-5 (Algo)...

10/24/2020 Assignment Print View
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P2-5 (Algo) Recording Transactions, Preparing Journal Entries, Posting to T-Accounts, Preparing the Balance 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, personal
computers, and portable digital music players and sells a variety of related software and services. The following is Mango’s (simplified) balance sheet
from a recent year (fiscal year ending on the last Saturday of September).
MANGO INC.
CONSOLIDATED BALANCE SHEET
September 30, 2017
(dollars in millions)
ASSETS
Current assets:
Cash $ 14,084
Short-term investments 11,425
Accounts receivable 17,755
Inventories 2,142
Other current assets 24,231
Total current assets 69,637
Long-term investments 132,264
Property, plant, and equipment, net 20,957
Other noncurrent assets 12,728
Total assets
$235,586