Question

*Brief Exercise 9-11 x Your answer is incorrect. Try again. Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): other plant assets $958.0, land $240.0, patents and trademarks (at cost) $550.0, machinery and equipment $2,150.0, buildings $900.0, goodwill (at cost) $160.0, accumulated amortization $59.0, and accumulated depreciation $2,180. Prepare a partial balance sheet for Nike for these items. (List Property, Plant and Equipment in order of Land, Buildings and Machinery and Equipment.) NIKE, INC. Partial Balance Sheet As of May 31, 2022 (in millions) Total Assets TOther Plant Assets 958,000,000 TILand Patents and Trademarks TMachinery and Equipme

Answer 1

Answer:

NIKE, INC.
Partial Balance Sheet
As of May 31,2022
( in millions)
Property,plant, and equipment:
Land			$240.0
Buildings		$900.0
Machinery and equipment		$2,150.0
Other plant assets		$958.0
(Less): Accumulated depreciation		($2,180.0)	$1,828.0
Total property,plant, and equipment			$2,068.0
Intangible assets:
Goodwill (at cost)		$160.0
Patents and trademarks (at cost)	$550.0
(Less): Accumulated amortization	($59.0)	$491.0
Total intangible assets			$651.0