sony corporation is a leading international supplier of audio and video equipment th 4374340

Sony Corporation is a leading international supplier of audio and video equipment. The Sony annual report at the end of the 2011 fiscal year included the following balance sheet items (Japanese yen in billions): Cash ……………. ¥1,014Receivables ………… 744Prepaid expenses ………. 603Land ……………. 146Accounts payable, trade ……. 793Consider the following assumed transactions that occurred immediately subsequent to the balance sheet date (Japanese yen in billions): a. Collections from customers ……….. ¥567 b. Purchase of land for cash …………… 20 c. Purchase of 2-year insurance policy for cash … 12 d. Disbursements to trade creditors ……… 4991. Enter the five account balances in T-accounts. 2. Journalize each transaction. 3. Post the journal entries to T-accounts. Key each posting by transaction letter. View Solution:
Sony Corporation is a leading international supplier of audio and

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