90.2K

Verified Solution

Link Copied!

Using the attached screenshot of a balance sheet $-$based on unearned revenue only $($that is$,$ ignore accounts receivable$),$ how much more $($or less$)$ cash did Microsoft collect from customers relative to how much they recognized in revenue? Note: If they collected less, then include a minus sign.$($In millions$)$

June $30,$ Assets

Current assets:

Cash and cash equivalents

Short$-$term investments

Total cash, cash equivalents, and short$-$term investments

Accounts receivable, net of allowance for doubtful accounts of $$751$ and $$788$

Inventories

Other current assets

Total current assets

Property and equipment, net of accumulated depreciation of $$51,351$ and $$43,197$

Operating lease right$-$of$-$use assets

Equity investments

Intangible assets, net Other long$-$term assets

Total assets

Liabilities and stockholders' equity

Current liabilities:

Accounts payable

Current portion of long$-$term debt

Accrued compensation

Short$-$term income taxes

Short$-$term unearned revenue

Other current liabilities

Total current liabilities

Long$-$term debt

Long$-$term income taxes

Long$-$term unearned revenue

Deferred income taxes

Operating lease liabilities

Other long$-$term liabilities

Total liabilities

Commitments and contingencies

Stockholders' equity:

Common stock and paid$-$in capital $-$ shares authorized $24,000$; outstanding $7,519$ and $7,571$

Retained earnings

Accumulated other comprehensive income

Total stockholders' equity

Total liabilities and stockholders' equity

Refer to accompanying notes.

$

$

$2021$

$14,224$ $

$116,110$

$130,334$

$38,043$

$2,636$

$13,393$

$184,406$

$59,715$

$11,088$

$5,984$

$49,711$

$7,800$

$15,075$

$333,779$ $

$15,163$ $

$8,072$

$10,057$

$2,174$

$41,525$

$11,666$

$30\mathrm{.}072$

$27,190$

$2,616$

$198$

$9,629$

$13,427$

$191,791$

$83,111$

$57,055$

$1,822$

$141,988$

$333,779$ $

$2020$

$13,576$

$122,951$

$136,527$

$32,011$

$1,895$

$11,482$

$181,915$

$44,151$

$2,953$

$43,351$

$7,038$

$13,138$

$301,311$

$12,530$

$3,749$

$2,130$

$36,000$

$10,027$

$72,310$

$59,578$

$29,432$

$3,180$

$10,632$

$183,007$

$80,552$

$34,566$

$3,186$

$118,304$

$301,311$

Answer & Explanation Solved by verified expert

See Answer