Refer to the financial statements of American Eagle Outfitters in Appendix B at the end of this

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Refer to the financial statements of American Eagle Outfitters in Appendix B at the end of this book.
Required:
l. What types of securities are included in the short-term investments and the long-term investments reported on the company's balance sheet as of the end of fiscal 2014 (statement dated January 31, 2015)?
2. What is the balance of goodwill reported by the company at January 31, 2015? What does the change in goodwill from February 1, 2014, imply about corporate acquisition activities in the 2014 fiscal year? Do the notes to the financial statements indicate any acquisition or disposition activity in either fiscal 2013 or 2014? If so, what were the activities?
Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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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Financial Accounting

ISBN: 978-1259222139

9th edition

Authors: Robert Libby, Patricia Libby, Frank Hodge

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