Shawna N.

asked • 05/07/15

partial balance sheet

Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2014 (in millions): other plant assets $941.5; land $216.0; patents and trademarks (at cost) $511.2; machinery and equipment $2,078.6; buildings $979; goodwill (at cost) $209.2; accumulated amortization $57.7; and accumulated depreciation $2,270.

Prepare a partial balance sheet for Nike for these items. (List Property, Plant and Equipment in order of Land, Buildings and Equipment.)
 
I am not such how to put millions in a balance sheet. Do you not add the zeros?
070eb025 9126 45cb 81ba ec833b2136ed

Stephanie M.

I think you can leave off the zeros as long as you label the columns "assets (in millions)" etc. Basically as long as you acknowledge somewhere that it's in millions, you should be fine. I'm not an accountant, though.
Report

05/07/15

1 Expert Answer

By:
76bd7819 fcf7 4f87 8b0d 9245c71a087d

Jill S. answered • 05/08/15

Accounting and Business can be Fun

Tutor
I’m available for 1–on–1 sessions ›

Still have a question? Ask your own and get expert help!