Question

Corporation provides a broad range of​ high-technology products and support services to the building systems and aerospace industries. Those products include Pratt​ & Whitney aircraft​ engines, Carrier heating and air conditioning​ equipment, Otis​ elevators, and Sikorsky helicopters. Planet Technologies' September​ 30, 2011​, balance sheet included the following items​ ($ in​ millions): LOADING...​(Click the icon to view the​ information.) Requirement Prepare a condensed balance​ sheet, including amounts for 1. Cash. 2. Total​ Stockholders' Equity. 3. Other​ Stockholders' Equity. Begin by preparing the assets​ section, then complete the balance sheet by preparing the liabilities and​ stockholders' equity section of the statement. Planet Technologies Corporation Balance Sheet September 30, 2011 (in millions) Assets Liabilities and Stockholders' Equity Total liabilities Total stockholders' equity Total assets Total liabilities and stockholders' equity Fixed assets $7,765 Accounts payable 4,031 Common stock 13,734 Cash ? Total stockholders’ equity ? Long-term debt 9,503 Total assets 60,817 Inventories 8,453 Other assets 41,159 Other stockholders’ equity ? Other liabilities 23,851

Answer 1

Planet Technologies Corporation
Balance Sheet
September 30, 2011
Assets
Cash	3440
Inventories	8453
Fixed assets	7765
Other assets	41159
Total assets	60817
Liabilities and Stockholders' Equity
Accounts payable	4031
Long-term debt	9503
Total liabilities	13534
Common stock	13734
Other stockholder's equity	33549
Total stockholders' equity	47283
Total liabilities and stockholders' equity	60817

Working:

1. Cash = Total assets - Inventories - Fixed assets - Other assets = $60817 - $8453 - $7765 - $41159 = $3440

2. Total liabilities and stockholders' equity = Total assets = $60817

Total stockholders' equity = Total liabilities and stockholders' equity - Total liabilities = $60817 - $13534 = $47283

3. Other stockholders' equity = Total stockholders' equity - Common stock = $47283 - $13734 = $33549