The financial statements of Amazon.com, Inc. are presented in Appendix D. Financial statements of Wal-Mart Stores, Inc.

Question:

The financial statements of Amazon.com, Inc. are presented in Appendix D. Financial statements of Wal-Mart Stores, Inc. are presented in Appendix E.

a. Identify two accounts on Amazon’s balance sheet that provide evidence that Amazon uses accrual accounting. In each case, what income statement account would normally be affected by the adjustment process?

b. Identify two accounts on Wal-Mart’s balance sheet that provide evidence that Wal-Mart uses accrual accounting (different from the two you listed for Amazon). In each case, what income statement account would normally be affected by the adjustment process?

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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