Kindly verify the basic accounting equation balances. the assets, liabilities and Stockholder's Equity. Table of Contents VISA INC. CONSOLIDATED BALANCE SHEETS September 30, 2019 September 30, 2018 (in millions, except par value data) Assets Cash and cash equivalents $ 7,838 $ 8,162 Restricted cash equivalents—U.S. litigation escrow (Note 4 and Note 5) 1,205 1,491 Investment securities (Note 6) 4,236 3,547 Settlement receivable 3,048 1,582 Accounts receivable 1,542 1,208 Customer collateral (Note 4 and Note 11) 1,648 1,324 Current portion of client incentives 741 340 Prepaid expenses and other current assets 712 562 Total current assets 20,970 18,216 Investment securities (Note 6) 2,157 4,082 Client incentives 2,084 538 Property, equipment and technology, net (Note 7) 2,695 2,472 Goodwill (Note 8) 15,656 15,194 Intangible assets, net (Note 8) 26,780 27,558 Other assets 2,232 1,165 Total assets $ 72,574 $ 69,225 Liabilities Accounts payable $ 156 $ 183 Settlement payable 3,990 2,168 Customer collateral (Note 4 and Note 11) 1,648 1,325 Accrued compensation and benefits 796 901 Client incentives 3,997 2,834 Accrued liabilities 1,625 1,160 Deferred purchase consideration — 1,300 Accrued litigation (Note 20) 1,203 1,434 Total current liabilities 13,415 11,305 Long-term debt (Note 9) 16,729 16,630 Deferred tax liabilities (Note 19) 4,807 4,618 Other liabilities 2,939 2,666 Total liabilities 37,890 35,219 Commitments and contingencies (Note 17) Equity Preferred stock, $0.0001 par value, 25 shares authorized and 5 shares issued and outstanding as follows: Series A convertible participating preferred stock, none issued (the “class A equivalent preferred stock”) (Note 14) — — Series B convertible participating preferred stock, 2 shares issued and outstanding at September 30, 2019 and 2018 (the “UK&I preferred stock”) (Note 5 and Note 14) 2,285 2,291 Series C convertible participating preferred stock, 3 shares issued and outstanding at September 30, 2019 and 2018 (the “Europe preferred stock”) (Note 5 and Note 14) 3,177 3,179 Class A common stock, $0.0001 par value, 2,001,622 shares authorized, 1,718 and 1,768 shares issued and outstanding at September 30, 2019 and 2018, respectively (Note 14) — — Class B common stock, $0.0001 par value, 622 shares authorized, 245 shares issued and outstanding at September 30, 2019 and 2018, respectively (Note 14) — — Class C common stock, $0.0001 par value, 1,097 shares authorized, 11 and 12 shares issued and outstanding at September 30, 2019 and 2018, respectively (Note 14) — — Right to recover for covered losses (Note 5) (171 ) (7 ) Additional paid-in capital 16,541 16,678 Accumulated income 13,502 11,318 Accumulated other comprehensive income (loss), net: Investment securities 6 (17 ) Defined benefit pension and other postretirement plans (192 ) (61 ) Derivative instruments 199 60 Foreign currency translation adjustments (663 ) 565 Total accumulated other comprehensive income (loss), net (650 ) 547 Total equity 34,684 34,006 Total liabilities and equity $ 72,574 $ 69,225

Kindly verify the basic accounting equation balances. the assets, liabilities and Stockholder's Equity. Table of Contents VISA INC. CONSOLIDATED BALANCE SHEETS September 30, 2019 September 30, 2018 (in millions, except par value data) Assets Cash and cash equivalents $ 7,838 $ 8,162 Restricted cash equivalents—U.S. litigation escrow (Note 4 and Note 5) 1,205 1,491 Investment securities (Note 6) 4,236 3,547 Settlement receivable 3,048 1,582 Accounts receivable 1,542 1,208 Customer collateral (Note 4 and Note 11) 1,648 1,324 Current portion of client incentives 741 340 Prepaid expenses and other current assets 712 562 Total current assets 20,970 18,216 Investment securities (Note 6) 2,157 4,082 Client incentives 2,084 538 Property, equipment and technology, net (Note 7) 2,695 2,472 Goodwill (Note 8) 15,656 15,194 Intangible assets, net (Note 8) 26,780 27,558 Other assets 2,232 1,165 Total assets $ 72,574 $ 69,225 Liabilities Accounts payable $ 156 $ 183 Settlement payable 3,990 2,168 Customer collateral (Note 4 and Note 11) 1,648 1,325 Accrued compensation and benefits 796 901 Client incentives 3,997 2,834 Accrued liabilities 1,625 1,160 Deferred purchase consideration — 1,300 Accrued litigation (Note 20) 1,203 1,434 Total current liabilities 13,415 11,305 Long-term debt (Note 9) 16,729 16,630 Deferred tax liabilities (Note 19) 4,807 4,618 Other liabilities 2,939 2,666 Total liabilities 37,890 35,219 Commitments and contingencies (Note 17) Equity Preferred stock, $0.0001 par value, 25 shares authorized and 5 shares issued and outstanding as follows: Series A convertible participating preferred stock, none issued (the “class A equivalent preferred stock”) (Note 14) — — Series B convertible participating preferred stock, 2 shares issued and outstanding at September 30, 2019 and 2018 (the “UK&I preferred stock”) (Note 5 and Note 14) 2,285 2,291 Series C convertible participating preferred stock, 3 shares issued and outstanding at September 30, 2019 and 2018 (the “Europe preferred stock”) (Note 5 and Note 14) 3,177 3,179 Class A common stock, $0.0001 par value, 2,001,622 shares authorized, 1,718 and 1,768 shares issued and outstanding at September 30, 2019 and 2018, respectively (Note 14) — — Class B common stock, $0.0001 par value, 622 shares authorized, 245 shares issued and outstanding at September 30, 2019 and 2018, respectively (Note 14) — — Class C common stock, $0.0001 par value, 1,097 shares authorized, 11 and 12 shares issued and outstanding at September 30, 2019 and 2018, respectively (Note 14) — — Right to recover for covered losses (Note 5) (171 ) (7 ) Additional paid-in capital 16,541 16,678 Accumulated income 13,502 11,318 Accumulated other comprehensive income (loss), net: Investment securities 6 (17 ) Defined benefit pension and other postretirement plans (192 ) (61 ) Derivative instruments 199 60 Foreign currency translation adjustments (663 ) 565 Total accumulated other comprehensive income (loss), net (650 ) 547 Total equity 34,684 34,006 Total liabilities and equity $ 72,574 $ 69,225

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity

Section: Chapter Questions

Problem 6E: Balance Sheet Baggett Companys balance sheet accounts and amounts as of December 31, 2019, are shown...

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Kindly verify the basic accounting equation balances. the assets, liabilities and Stockholder's Equity.

Table of Contents

VISA INC.

CONSOLIDATED BALANCE SHEETS



	September 30, 2019		September 30, 2018
	(in millions, except par value data)
Assets
Cash and cash equivalents	$	7,838			$	8,162
Restricted cash equivalents—U.S. litigation escrow (Note 4 and Note 5)	1,205			1,491
Investment securities (Note 6)	4,236			3,547
Settlement receivable	3,048			1,582
Accounts receivable	1,542			1,208
Customer collateral (Note 4 and Note 11)	1,648			1,324
Current portion of client incentives	741			340
Prepaid expenses and other current assets	712			562
Total current assets	20,970			18,216
Investment securities (Note 6)	2,157			4,082
Client incentives	2,084			538
Property, equipment and technology, net (Note 7)	2,695			2,472
Goodwill (Note 8)	15,656			15,194
Intangible assets, net (Note 8)	26,780			27,558
Other assets	2,232			1,165
Total assets	$	72,574			$	69,225
Liabilities
Accounts payable	$	156			$	183
Settlement payable	3,990			2,168
Customer collateral (Note 4 and Note 11)	1,648			1,325
Accrued compensation and benefits	796			901
Client incentives	3,997			2,834
Accrued liabilities	1,625			1,160
Deferred purchase consideration	—			1,300
Accrued litigation (Note 20)	1,203			1,434
Total current liabilities	13,415			11,305
Long-term debt (Note 9)	16,729			16,630
Deferred tax liabilities (Note 19)	4,807			4,618
Other liabilities	2,939			2,666
Total liabilities	37,890			35,219
Commitments and contingencies (Note 17)
Equity
Preferred stock, $0.0001 par value, 25 shares authorized and 5 shares issued and outstanding as follows:
Series A convertible participating preferred stock, none issued (the “class A equivalent preferred stock”) (Note 14)	—			—
Series B convertible participating preferred stock, 2 shares issued and outstanding at September 30, 2019 and 2018 (the “UK&I preferred stock”) (Note 5 and Note 14)	2,285			2,291
Series C convertible participating preferred stock, 3 shares issued and outstanding at September 30, 2019 and 2018 (the “Europe preferred stock”) (Note 5 and Note 14)	3,177			3,179
Class A common stock, $0.0001 par value, 2,001,622 shares authorized, 1,718 and 1,768 shares issued and outstanding at September 30, 2019 and 2018, respectively (Note 14)	—			—
Class B common stock, $0.0001 par value, 622 shares authorized, 245 shares issued and outstanding at September 30, 2019 and 2018, respectively (Note 14)	—			—
Class C common stock, $0.0001 par value, 1,097 shares authorized, 11 and 12 shares issued and outstanding at September 30, 2019 and 2018, respectively (Note 14)	—			—
Right to recover for covered losses (Note 5)	(171	)		(7	)
Additional paid-in capital	16,541			16,678
Accumulated income	13,502			11,318
Accumulated other comprehensive income (loss), net:
Investment securities	6			(17	)
Defined benefit pension and other postretirement plans	(192	)		(61	)
Derivative instruments	199			60
Foreign currency translation adjustments	(663	)		565
Total accumulated other comprehensive income (loss), net	(650	)		547
Total equity	34,684			34,006
Total liabilities and equity	$	72,574			$	69,225

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