Recent balance sheets are provided for Dell Inc a leading
Recent balance sheets are provided for Dell, Inc., a leading producer and marketer of a broad range of personal computers, mobility products, software, and related tools and services.

1. Is Dell a corporation, sole proprietorship, or partnership? Explain the basis of your answer.
2. Use the company’s balance sheet (consolidated statement of financial position) to determine the amounts in the accounting equation (A = L + SE) at the end of the most recent year.
3. Calculate the company’s current ratio on February 3, 2012. Interpret the ratio that you calculated. What other information would make your interpretation more useful?
4. Prepare the journal entry the company will make in 2012 when it pays its fiscal year 2011 accounts payable (fiscal year 2011 ends on February 3, 2012).
5. Does the company appear to have been profitable over its years in business? On what account are you basing your answer? Assuming no dividends were paid, how much was net income (or net loss) in the most recent year? If it is impossible to determine without an income statement, stateso.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help