The financial statements of P&G are presented in Appendix 5B. The company’s complete annual report, including the notes to the financial statements, can be accessed at the book’s companion website, www.wiley.com/college/kieso.

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, 2011? At June 30, 2010?
  (b) How much cash (and cash equivalents) did P&G have on June 30, 2011?
  (c) What were P&G’s research and development costs in 2010? In 2011?
  (d) What were P&G’s revenues in 2010? In 2011?
  (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 2009, 2010, and 2011?