Obtain General Electrics 2009 annual report either through the Investor Relations portion of its Web site (do

Question:

Obtain General Electric’s 2009 annual report either through the “Investor Relations” portion of its Web site (do a web search for GE investor relations) or go to www.sec.gov and click “Search for Company Filings” under “Filings and Forms”
Required:
1. Determine the amounts in the accounting equation for the most recent year. Does it balance?
2. What is the normal balance for the following accounts?
a. Current Receivables
b. Short-Term Borrowings
c. Sales of Services
d. Property, Plant, and Equipment—Net
e. Cost of Goods Sold
f. Inventories
g. Retained Earnings
3. Identify the additional account that is most likely involved when:
a. is decreased.
b. Accounts Receivables is increased.
c. is increased.
d. Wages Payable is increased.
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