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Starfhuit Inc,heedquartered in Rdgway, Colorado, designs, manufactures, and markets mobde communcation and mecia devices, personal computers, and portable digital music players and sells a variety of seted services. The tolowing is Starthurs pumplihed bellance s sheet from a recont year (fiscal year ending on the last Saturday of Septomber) STARFRUT INC s 14,004 Long tem ineessments Property,plant and IAITES AND STOCKHOLDERS E s 30 520 18 653 Shotsem sotes payable 29.303 Long term deb 25112
Assume that the following transactions (in millions) occurred during the next fiscal year (ending on September 26, 2015) a. Borrowed $18,296 from banks due in two years b. Purchased additional investments for $23,800 cash, one-fifth were long term and the rest were short term. C. Purchased property, plant, and equipment, paid $9,603 in cash and signed a short-term note for $1,440 d. Issued additional shares of common stock for $1,500 in cash, total par value wos $1 and the rest was in excess of par value e. Sold short-term investments costing $19,038 for $19,038 cash f. Declared $11,156 in dividends to be paid at the beginning of the next fiscal year
2. Create T-accounts for each balance sheet account. Post each transaction to the appropriate T-accounts (Enter your answers in millions.) Cash Short-term Investments Beg. Bal. 14,004 Beg. Bal 11,361 End Bal 11,361 End Bal. 14,004 Accounts Receivable Inventories Beg Ba 17,656 Beg Bal 2,131 End. Bal 17,656 End Bal 2.131 Other Current Assets Beg Bal. 24,107 Beg Bal. 131,546 End Bal 24,107 End Bal 131,546 Property, Plant, and Equipment Other Noncurrent Assets Bog Bal 20,844 Beg Bal 12,658 End Bal 20.844 End Bal 12 658
12,658 20,844 End. Bal End. Bal Accrued Expenses Accounts Payable 30,520 Beg. Bal 18,653 Beg. Bal 30,520 End Ba 18,653 End. Ba Short-term Notes Payable 6,376 Unearned Revenue Beg Bal 8,587 Beg Ba 8,587 End. Ba 6,376 End. Bal Dividends Payable Long-term Debt Beg. Bal 29,303 End Ba End. Bal 29,303 Other Noncurrent Liabilities Common Stock Beg Bal 28.157 Beg Bal End Ba 28.157 End Bal Additional Paid-in Capital Retained Earnings
Beg. Ba 8,587 6,376 End. Ba 8,587 End. Bal 6,376 Dividends Payable Long-term Debt Beg Bal Beg. Ball 29,303 End. Bal End Bal 29,303 Other Noncurrent Liabilities 28.157 n Stock Beg Bal Beg Bal End Bal 28,157 End Bal Additional Paid-in Capital Retained Earnings Beg Bal 25,112 Beg. Bal 87.598 End Bal 25,112 End Bal 87,598
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Answer #1

The answer has been presented in the supporting sheet. All the entries has been passed in the t shape account and the closing balance has been calculated. For detailed answer refer the supporting sheets.

PAGE No. Gracki t 4360一 9435 R ticu 18 236 lantarduimac ditional Paidin Copi Closin ebib Opening balance 2og v Pashicula Cadi

DATE PAGE No Redi t icula Opering balance 1315u6 436 LC lesing bal 126306 ance GRhiculax Debit 2 65 Den nc o Cloimg 1266 Shin

DATE PAGE No ebil aicul - Clasing baiana, 3052 9 ale Cradit bslance us

DATE PAGE Gadit 12653 ebrt Debie Peonticulauz 0 3816 Le y Gadi k Rticula 23302 18296- penima balance ng balance aSS Cammsn St

DATE PAGE No Phi nal laid in Copit Pathicula Openinag balance Cash 2-66 11 Cl 931 7 Daicula 91598 dead pay ble |11156 Closim

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