P2 5 part 2 2 create tac c ounts for eac h balanc e s

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Unformatted text preview: ls, journal entries and T­accounts. P2-5 Part 2 2. Create T­ac c ounts for eac h balanc e s heet ac c ount and inc lude the J anuary 30, 2009, balanc es . Pos t eac h journal entry to the appropriate T­ac c ounts . (Enter your answers in m illions. Record the transactions in the given order. Om it the "$" sign in your response.) Cas h Beg. a. e. f. 8,432 ± 0% 50 ± 0% 260 ± 0% 9,200 ± 0% 4,530 ± 0% Beg. c. 800 ± 0% 9,840 ± 0% 1,440 ± 0% 200 ± 0% 12,300 ± 0% 865 ± 0% 47 ± 0% b. c. d. g. Short­Term Inv es tments 9,200 ± 0% f. Rec eiv ables and Other As s ets Beg. b. 6,543 ± 0% 200 ± 0% 6,743 ± 0% Inv entories Beg. 872 ± 0% 872 ± 0% Other Current As s ets Beg. 3,769 ± 0% 3,769 ± 0% Property , Plant, and Equipment Beg. d. 2,287 ± 0% 2,195 ± 0% 4,482 ± 0% Long­Term Inv es tments Beg. c. 464 ± 0% 2,460 ± 0% 2,924 ± 0% Beg. 3,678 ± 0% 3,678 ± 0% Other Nonc urrent As s ets Ac c ounts Pay able 8,269 ± 0% Beg. 8,269 ± 0% Other s hort­term Obligations 6,620 ± 0% Beg. 6,620 ± 0% Long­Term Liabilities 7,450 ± 0% Beg. 50 ± 0% a. 1,330 ± 0% d. 8,830 ± 0% Contributed Capital 11,219 ± 0% Beg. 260 ± 0% e. 11,479 ± 0% Other Stoc k holders ' Equity Items Beg. 27,754 ± 0% 27,754 ± 0% Retained Earnings g. 47 ± 0% 21,041 ± 0% Beg. 20,994 ± 0% 4. awar d: 0.10 out of 0.10 points P2-5 Part 3 3. Prepare a balanc e s heet from the T­ac c ount ending balanc es for Dell at J anuary 29, 2010, bas ed on thes e trans ac tions . (Enter your answers in m illions.Be sure to list the accounts in order of their liquidity. Negative am ounts should be indicated by a m inus sign. Om it the "$" sign in your response.) DELL INC. Balanc e Sheet at J anuary 29, 2010 (dollars in millions ) ASSETS Current As s ets Cash Short­term investm ents Receivables and other assets Inventories Other current assets Nonc urrent As s ets Property, plant, and equipm ent Long­term investm ents $ 4,530 1,440 6,743 872 3,769 4,482 2,924 17,354 Other noncurrent assets Total as s ets LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities Accounts payable Other short­term obligations Long­term liabilities Stockholders’ Equity Contributed capital Retained earnings Other stockholders' equity item s Total s toc k holders ’ equity and liabilities 3,678 $ 28,438 $ 8,269 6,620 11,479 20,994 ­27,754 14,889 8,830 $ 28,438 Worksheet Learning Objective: 02­02 Identify what constitutes a business transaction and recognize common balance sheet account titles used in business. Learning Objective: 02­05 Prepare a simple classified balance sheet and analyze the company using the current ratio. P2­5 Part 3 Learning Objective: 02­04 Determine the impact of business transactions on the balance sheet using two basic tools, journal entries and T­accounts. P2-5 Part 3 3. Prepare a balanc e s heet from the T­ac c ount ending balanc es for Dell at J anuary 29, 2010, bas ed on thes e trans ac tions . (Enter your answers in m illions.Be sure to list the accounts in order of their liquidity. Negative am ounts should be...
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