The financial statements of P&G are presented in Appendix B. The company’s complete annual report, including the notes to the financial statements, is available online.

Instructions

Refer to these financial statements and the accompanying notes to answer the following questions.

a. What were P&G’s total assets at June 30, 2020? At June 30, 2019?

b. How much cash (and cash equivalents) did P&G have on June 30, 2020?

c. What were P&G’s research and development costs in 2019? In 2020?

d. What were P&G’s revenues in 2019? In 2020?

e. Using P&G’s financial statements and related notes, identify items that may result in adjusting entries for deferrals and accruals.

f. What were the amounts of P&G’s depreciation and amortization expense in 2019 and 2020?