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Prepare a classified balance sheet for Orange at September 26, 2020, based on these transactions. Example Templete is below:
Some things to help: Journal Entry and Trial Balance Below:
Please help as the past few people answered the problem incorrectly.
\begin{tabular}{l} ORANGE INCORPORATED \\ Balance Sheet \\ \hline \multicolumn{1}{|c|}{ At September 26, 2020 } \\ \hline (in millions) \\ \hline Assets \\ \hline Current assets: \\ \hline Cash \\ \hline Short-term investments \\ \hline Accounts receivable \\ \hline Inventories \\ \hline Other current assets \\ \hline Property, plant, and equipment, net \\ \hline Other noncurrent assets \\ \hline Total assets \\ \hline Pong-term investments \\ \hline \end{tabular} \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ Trial Balance } \\ \hline \multicolumn{3}{|c|}{ At September 26,2020} \\ \hline \multicolumn{3}{|c|}{ (in millions) } \\ \hline & Debit & Credit \\ \hline Cash & $20,921 & \\ \hline Short-term investments & 10,036 & \\ \hline Accounts receivable & 17,559 & \\ \hline Inventories & 2,122 & \\ \hline Other current assets & 24,007 & \\ \hline Long-term investments & 135,320 & \\ \hline Property, plant, and equipment, net & 31,743 & \\ \hline Other noncurrent assets & 12,592 & \\ \hline Accounts payable & & 30,363 \\ \hline Accrued expenses & & 18,555 \\ \hline Unearned revenue & & 8,539 \\ \hline Dividends payable & & 11,138 \\ \hline Short-term debt & & 7,765 \\ \hline Long-term debt & & 47,427 \\ \hline Other noncurrent liabilities & & 28,010 \\ \hline Common stock & & 2 \\ \hline Additional paid-in-capital & & 25,392 \\ \hline Retained earnings & & 77,109 \\ \hline & & \\ \hline & & \\ \hline Totals & $254,300 & 254,300 \\ \hline \end{tabular} a. Borrowed $18,279 from banks due in two years. b. Purchased additional investments for $22,200 cash; one-fifth were long term and the rest were short term. c. Purchased property, plant, and equipment; paid $9,584 in cash and signed a short-term note for $1,422. d. Issued additional shares of common stock for $1,481 in cash; total par value was $1 and the rest was in excess of par value. e. Sold short-term investments costing $19,021 for $19,021 cash. f. Declared $11,138 in dividends to be paid at the beginning of the next fiscal year. Orange Incorporated, headquartered in Cupertino, California, designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories, and sells a variety of related services. The following is Orange's (simplified) balance sheet from a recent year (fiscal year ending on the last Saturday of September). Liabilities and stockholders' equity Current liabilities: \begin{tabular}{|l|l|} \hline Accounts payable \\ \hline Accrued expenses \\ \hline Unearned revenue \\ \hline Dividends payable \\ \hline Short-term debt & \\ \hline & \\ \hline Total current liabilities & \\ \hline Long-term debt & \\ \hline Other noncurrent liabilities & \\ \hline Total liabilities & \\ \hline Stockholders' equity: & \\ \hline Common stock & \\ \hline Additional paid-in-capital & \\ \hline Retained earnings & \\ \hline & $ \\ \hline Total stockholders' equity & 0 \\ \hline Total liabilities and stockholders' equity & \\ \hline \end{tabular} \begin{tabular}{|c|c|c|c|c|} \hline No & Transaction & General Journal & Debit & Credit \\ \hline \multirow[t]{2}{*}{1} & a & Cash & 18.279 & \\ \hline & & Long-term debt & & 18,279 \\ \hline \multirow[t]{3}{*}{2} & b & Long-term investments & 4,4400 & \\ \hline & & Short-term investments & 17,760 & \\ \hline & & Cash & & 22,200 \\ \hline \multirow[t]{3}{*}{3} & c & Property, plant, and equipment, net & 11,006 & \\ \hline & & Cash & & 9,584 \\ \hline & & Short-term debt & & 1,422 \\ \hline \multirow[t]{3}{*}{4} & d & Cash & 1,481 & \\ \hline & & Common stock & & 10 \\ \hline & & Additional paid-in-capital & & 1,480 \\ \hline \multirow[t]{2}{*}{5} & e & Cash & 19,021 & \\ \hline & & Short-term investments & & 19,021 \\ \hline \multirow[t]{2}{*}{6} & f & Retained earnings & 11,138 & \\ \hline & & Dividends payable & & 11,138 \\ \hline \end{tabular}
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