The following information was reported in a recent balance sheet issued by Microsoft Corporation: 1 , The book value of property and equipment is listed at $59.7 billion (net of depreciation). Related notes to the financial statements reveal that accumulated depreciation on property and equipment totals $51.4 billion. 2. Accrued compensation of $10.1 billion is listed as a liability. 3. Short-term unearned revenue is reported at $45.5 billion, whereas long-tern unearned revenue is reported at $2.6 billion. The short-term figure will be converted to revenue within a year. The long-term figure will be converted to revenue over several years. a. Determine the original historical cost of the property and equipment reported in Microsoft Corporation's balance sheet. b. Four types of adjusting entries are illustrated in Exhibit 4-1 of the textbook. Explain which type of adjusting entry resulted in the company's accrued copensation figure. c. Explain why Microsoft Corporation reports unearned revenue in its balance sheet. Why might the company report short-term unearned revenue separately from long-tern unearned revenue
Other questions asked by students
What was the most significant ramifications of FASB 8 and FASB 52 on U.S. business and...
The Racah parameter B is 460 cm-1 in [Co(CN)6]3– and 615 cm-1 in [Co(NH3)6]3+. Consider the...
Type the correct answer in the box Use numerals only What is a biodiversity hotspot...
A solid sphere and a hollow sphere are released from rest on two identical inclines...
Economists often are interested in percentage change from one period to the next The percentage...
Question 5 of 5 5 What is the slope of the least squares regression line...
Adult men have heights with a mean of 69 0 inches and a standard deviation...
5 Given f x 9x5 6x 7x 5 how many sign changes are there in...
(a2) please. The table You have the following information for Sheffield Inc. Sheffield Inc....