Question

Suppose Nike, Inc. reported the following plant assets and intangible assets for the year ended May 31, 2022 (in millions): other plant assets $935.0, land $220.0, patents and trademarks (at cost) $510.0, machinery and equipment $2,160.0, buildings $980.0, goodwill (at cost) $210.0, accumulated amortization $50.0, and accumulated depreciation $2,200. Prepare a partial balance sheet for Nike for these items.

Answer 1

Answer:

                                        NIKE, INC.

               Partial Balance Sheet as of May 31, 2022

                                                                            (in millions)

Property, Plant and Equipment

Land                                                                          $220.0

Buildings                                                  $980.0

Machinery and Equipment                     $2160.0

Other Plant Assets                                  $935.0

Less: Accumulated Depreciation          $2200.0   $1875.0

Total Property, Plant and Equipment                    $2095.0

Intangible Assets:

Goodwill                                                                    $210.0

Patents and Trademarks                         $510.0

Less: Accumulated Amortization            $50.0       $460.0

Total Intangible Assets                                            $670.0