Question

Refer to Home Depot's classified balance sheet contained in Appendix C of the textbook.
Required
a. The current liability section contains an account entitled "Current Installments of Long-Term Debt." Explain what this account represents and why it is included in current liabilities if it relates to long-term debt.
b. The liability section contains an account entitled "Long-Term Debt, excluding current installments." Examine the fifth note to the financial statements and identify how many different "Senior Notes" are included in the account balance.
c. The current liability section contains an account entitled "Deferred Revenue." Read the "Revenues" and "Services Revenue" paragraphs in the first note to the financial statements. What two general activities are captured in the "Deferred Revenue" account?


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  • CreatedJuly 16, 2015
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