financeKey figures for Apple and Google follow.
$$
\begin{matrix}
& \text{Apple} & \quad & \text{Google}\\
\text{\$ millions} & \text{Current Year} & \text{Prior Year} & \text{Current Year} & \text{Prior Year}\\
\text{Total assets} \ldots\ldots\ldots & \text{\$290,479} & \text{\$231,839} & \text{\$147,461} & \text{\$129,187}\\
\text{Total liabilities} \ldots\ldots\ldots & \text{171,124} & \text{120,292} & \text{27,130} & \text{25,327}\\
\text{Total equity} \ldots\ldots\ldots & \text{119,355} & \text{111,547} & \text{120,331} & \text{103,860}\\
\end{matrix}
$$
1. Compute the debt-to-equity ratios for Apple and Google for both the current year and the prior year. 2. Use the ratios you computed in part 1 to determine which company’s financing structure is least risky. Assume an industry average of 0.44 for debt-to-equity. financeJournalize the following transactions completed during August of the current year. Use page 1 of the journal given in the Working Papers. Source documents are abbreviated as follows: check stub, C; memorandum, M; receipt, R; sales invoice, S; calculator tape, T.
Aug. 1. Received cash from owner as an investment, $18,000.00. R1.
1. Paid cash for rent,$3,600.00. Cl.
2. Paid cash for electric bill, $210.00. C2.
4. Paid cash for supplies,$900.00. C3.
4. Paid cash for insurance, $2,400.00. C4.
7. Bought supplies on account from Dakota Supplies,$1,000.00. M1.
11. Paid cash to establish a petty cash fund, $200.00. cs.
12. Received cash from sales,$950.00. Tl 2.
13. Paid cash for repairs, $500.00. C6.
13. Paid cash for miscellaneous expense,$80.00. C7.
13. Received cash from sales, $470.00. T13.
13. Sold services on account to Valley College,$450.00. S1.
14. Paid cash for advertising, $600.00. C8.
15. Paid cash to owner for personal use,$500.00. C9.
15. Paid cash on account to Dakota Supplies, $600.00. C10.
15. Received cash from sales,$610.00. T15.
15. Sold services on account to Skiffton University, $850.00. S2.
18. Paid cash for miscellaneous expense,$190.00. C11.
18. Received cash on account from Valley College, $250.00. R2.
19. Received cash from sales,$960.00. T19.
20. Paid cash for repairs, $320.00. C12.
20. Bought supplies on account from Seaside Supplies,$240.00. M2. 1st Edition•ISBN: 9780078953125 (1 more)Carl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese1,600 solutions
9th Edition•ISBN: 9780134804460 (2 more)Bruce M. King, Pamela Regan1,085 solutions
3rd Edition•ISBN: 9781319070502 (1 more)C. Nathan DeWall, David G Myers956 solutions
14th Edition•ISBN: 9780470587232 (4 more)Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield1,471 solutions
