Nike, Inc.reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): other plant a
ssets $948.0, land $250.0, patents and trademarks (at cost) $510.0, machinery and equipment $2,190.0, buildings $950.0, goodwill (at cost) $210.0, accumulated amortization $50.0, and accumulated depreciation $2,360. Prepare a partial balance sheet for Nike for these items. (List Property, Plant and Equipment in order of Land, Buildings and Machinery and Equipment.)
1 answer:
Answer:
Explanation:
The total assets comprises of current assets, fixed assets ,and the intangible assets
The current assets includes cash, stock, account receivable, etc
Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.
And, the intangible assets include patents, copyrights, goodwill, etc.
The preparation of the classified balance sheet for Nike, Inc on May 31, 2022 is presented in the spreadsheet. Kindly find the attachment below:
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The company's inventory policy should be kept in mind while creating a production budget. The production budget is built on the sales budget, with changes made for starting and ending inventories.
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For the given question, the production budget is prepared and attached in the form of an image.
Learn more about Production Budget here: brainly.com/question/13061264
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