Refer to the financial statement footnotes or financial review section of the annual report of Zipcar, Inc.
Question:
a. What are the principal components included in the firm’s receivables (or accounts and notes receivable, or trade receivable)?
b. What inventory valuation method(s) is (are) being used for financial reporting purposes? How much more would ending inventory have been if it were reported on a total FIFO basis? (Hint: The disclosure is sometimes referred to as the “LIFO Reserve.”)
c. Does the firm report a reconciliation of the statutory income tax rate with the effective tax rate? If so, what are the rates, and what principal temporary differences caused them to differ?
d. Does the firm have an employee stock purchase plan, an employee stock ownership plan (ESOP), or other restrictive stock plans? If so, describe the key characteristics of these plans from the perspectives of a common stockholder.
e. Have any significant subsequent events occurred since the balance sheet date? If so, describe the effects that these items will have on future financial statements.
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Fundamental accounting principle
ISBN: 978-0078025587
21st edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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