Fundamentals Of Financial Accounting
6th Edition
ISBN: 9781259864230
Author: PHILLIPS, Fred, Libby, Robert, Patricia A.
Publisher: Mcgraw-hill Education,
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Textbook Question
Chapter 5, Problem 1SDC
Finding Financial Information
Refer to the financial statements of The Home Depot in Appendix A at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. See S 1-1 for further explanation.)
Required:
- 1. How much does The Home Depot report for Cash and Cash Equivalents and Restricted Cash (in millions) at January 29, 2017?
- a. $2,538 and $2,216
- b. $2,538 and $2,029
- c. $17,724 and $1,235
- d. $2,538 and $0
- 2. Accompanying the financial statements are reports issued by management and an independent registered public accounting firm regarding the company’s internal control. According to these reports, did the company maintain effective internal control over financial reporting?
- a. Management concluded: yes; independent registered public accounting firm concluded: yes.
- b. Management concluded: yes; independent registered public accounting firm concluded: no.
- c. Management concluded: no; independent registered public accounting firm concluded: yes.
- d. Management concluded: no; independent registered public accounting firm concluded: no.
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The cash records and bank statement for the month of May for Diaz Entertainment are shown below.
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Cash Receipts
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=
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Required information [The following information applies to the questions displayed below.] The
general ledger of Zips Storage at January 1, 2024, includes the following account balances:
The following is a summary of the transactions for the year: January 9 February 12 April 25 May
6 July 15 September 10 October 31 November 20 December 30 Provide storage services for
cash, $135, 100, and on account, $52, 700. Collect on accounts receivable, $51, 600. Receive
cash in advance from customers, $13,000. Purchase supplies on account, $9, 400. Pay
property taxes, $8,600. Pay on accounts payable, $11,500. Pay salaries, $124, 600. Issue
shares of common stock in exchange for $28,000 cash. Pay $2,900 cash dividends to
stockholders.Prepare an unadjusted trial balance.
Chapter 5 Solutions
Fundamentals Of Financial Accounting
Ch. 5 - Prob. 1QCh. 5 - Prob. 2QCh. 5 - Prob. 3QCh. 5 - Prob. 4QCh. 5 - Prob. 5QCh. 5 - What aspect(s) of the Sarbanes-Oxley Act might...Ch. 5 - Prob. 7QCh. 5 - What are the five components of an internal...Ch. 5 - Prob. 9QCh. 5 - Why is it a good idea to assign each task to only...
Ch. 5 - Prob. 11QCh. 5 - Prob. 12QCh. 5 - Prob. 13QCh. 5 - Prob. 14QCh. 5 - Prob. 15QCh. 5 - Prob. 16QCh. 5 - What is the primary internal control goal for cash...Ch. 5 - Prob. 18QCh. 5 - Prob. 19QCh. 5 - Prob. 20QCh. 5 - Prob. 21QCh. 5 - Prob. 22QCh. 5 - Prob. 23QCh. 5 - Prob. 24QCh. 5 - Prob. 1MCCh. 5 - Prob. 2MCCh. 5 - Prob. 3MCCh. 5 - Prob. 4MCCh. 5 - Which of the following internal control principles...Ch. 5 - Prob. 6MCCh. 5 - Prob. 7MCCh. 5 - Prob. 8MCCh. 5 - Prob. 9MCCh. 5 - Prob. 10MCCh. 5 - Prob. 1MECh. 5 - Prob. 2MECh. 5 - Prob. 3MECh. 5 - Prob. 4MECh. 5 - Prob. 5MECh. 5 - Prob. 6MECh. 5 - Prob. 7MECh. 5 - Prob. 8MECh. 5 - Prob. 9MECh. 5 - Prob. 10MECh. 5 - Prob. 11MECh. 5 - Prob. 12MECh. 5 - Prob. 13MECh. 5 - Prob. 14MECh. 5 - Prob. 15MECh. 5 - Prob. 16MECh. 5 - Identifying Internal Control Principle and...Ch. 5 - Prob. 2ECh. 5 - Prob. 3ECh. 5 - Prob. 4ECh. 5 - Prob. 5ECh. 5 - Prob. 6ECh. 5 - Reporting Cash, Cash Equivalents, and Restricted...Ch. 5 - Prob. 8ECh. 5 - Prob. 9ECh. 5 - Prob. 10ECh. 5 - Prob. 1CPCh. 5 - Prob. 2CPCh. 5 - Prob. 3CPCh. 5 - Prob. 4CPCh. 5 - Prob. 1PACh. 5 - Prob. 2PACh. 5 - Prob. 3PACh. 5 - Prob. 4PACh. 5 - Prob. 1PBCh. 5 - Prob. 2PBCh. 5 - Prob. 3PBCh. 5 - Prob. 4PBCh. 5 - Recording Transactions and Adjustments,...Ch. 5 - Finding Financial Information Refer to the...Ch. 5 - Comparing Financial Information Refer to the...Ch. 5 - Ethical Decision Making: A Real-Life Example When...Ch. 5 - Ethical Decision Making: A Mini-Case You are an...Ch. 5 - Accounting for Cash Receipts, Purchases, and Cash...
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