Dell Inc is a leading global provider of computer products

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Dell Inc. is a leading global provider of computer products and services for both the consumer
and enterprise markets. Dell offers a full line of desktop and notebook PCs, network servers,
workstations, storage systems, printers, handheld computers, digital music players, LCD and
plasma televisions, and projectors. The following is Dell’s (simplified) statement of financial
position from a recent year:Assume that the following transactions (in millions of dollars)
occurred in fiscal year 2013 (ending on February 2, 2013):a. Issued additional shares for $ 200
in cash.b. Borrowed $ 300 from banks; due in two years.c. Purchased additional investments for
$ 7,500 cash; one- fifth were long term and the rest were short term.d. Purchased property,
plant, and equipment; paid $ 4,650 in cash and $ 850 with additional long-term bank loans.e.
Lent $ 250 to associated companies that signed a six- month note.f. Sold short- term
investments costing $ 5,000 for $ 5,000 cash.Required:1. Prepare a journal entry for each
transaction.2. Create a T- account for each item on the statement of financial position and
include the February 3, 2012 balances. Post each journal entry to the appropriate T- account.3.
Prepare a statement of financial position for Dell based on the T- account ending balances at
February 2, 2013.4. Compute Dell’s current ratio for fiscal year 2013. What does this suggest
about the company?View Solution:
Dell Inc is a leading global provider of computer products

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