The following items are included in the Current Liabilities category on the consolidated balance sheet of Darden
Question:
The following items are included in the Current Liabilities category on the consolidated balance sheet of Darden Restaurants at May 25, 2014 and May 26, 2013:
Required
1. Darden Restaurants uses the indirect method to prepare its statement of cash flows. Prepare the Operating Activities section of the cash-flow statement, which indicates how each item will be reflected as an adjustment to net income.
2. If you did not include any of the preceding items in your answer to part (1), explain how these items would be reported on the statement of cash flows.
Darden Restaurants, Inc. Consolidated Balance Sheets May 25 2014 May 26, 2013 (in millions) Current liabilities Accounts payable Short-term debt Accrued payroll Accrued income taxes Other accrued taxes Unearned revenues Current portion of long-term debt Other current liabilities Liabilities associated with assets held for sale 233.1 207.6 125.7 S 296.5 164.5 150.5 16.5 67.6 270.5 64.5 299.7 15.0 457.4 215.5 $1,618.5 450.3 Total current liabilities $1,416.4
Step by Step Answer:
1 Adjustments to reconcile net income to net cash provided by operating ...View the full answer
Financial Accounting The Impact On Decision Makers
ISBN: 9781305793194
10th Edition
Authors: Gary A. Porter, Curtis L. Norton
Related Video
This video explains the basic understanding of a group. The term control is acquired when a parent company acquires more than 50% voting rights of subsidiaries. We have covered the basic structure of the consolidated balance sheet, with multiple scenarios of 100% and partial acquisitions at the start and during an accounting period. Also, goodwill and Non-controlling interest are covered in detail
Students also viewed these Cost Accounting questions
-
To prepare its statement of cash flows for the year ended December 31, 2010, Sweet Confections, Inc., gathered the following information: Gain on sale of land .............. $ 25,000 Proceeds from...
-
To prepare its statement of cash flows for the year ended June 30, 2011, Glavine Sports Products, Inc., gathered the following information: Loss on sale of automobile ........... $ 5,000 Proceeds...
-
To prepare its statement of cash flows for the year ended December 31, 2012, McKinney Carterette Cataloging Specialists, Inc., gathered the following information: Dividends paid ............... $...
-
Taylors 2022 health insurance premiums of $7,800 are paid by her employer. During 2022, Taylor requires surgery on her vocal chords. The cost of the surgery is $10,000 and Taylors insurance covers...
-
Hinkel Rotary Engine, Ltd., produces four- and sixcylinder models of automobile engines. The firm's profit for each four-cylinder engine sold during its quarterly production cycle is $1,800 $50X1,...
-
In lab you find that a 1-kg rock suspended above water weighs 10 N. When the rock is suspended beneath the surface of the water, the scale reads 8 N. a. What is the buoyant force on the rock? b. If...
-
Four streams are to be cooled or heated: (a) For \(\Delta T_{\text {min }}=10^{\circ} \mathrm{C}\), find the minimum heating and cooling utilities. What are the pinch temperatures? (b) Design a heat...
-
Looney Inc. was organized on July 1, Year 1. A summary of cash flows for July follows. Cash receipts: Cash received from customers ...........$600,000 Cash received from sale of capital stock ..........
-
Calculate the levelized cost of heating ($/MBTU) and the emissions (tons/MBTU) for a natural gas furnace and an electric heat pump. [10 points]
-
Shelia Young started a real estate business at the beginning of January. After approval by the state for a charter to incorporate, she issued 1,000 shares of stock to herself and deposited $20,000 in...
-
Brinker International operates Chili's, Macaroni Grill, and other restaurant chains. The following items are classified as current liabilities on Brinker International's balance sheets as of 2014 and...
-
On January 1, 2016, Chen Yu's Office Supply Store plans to remodel the store and install new display cases. Chen has the following options of payment. Chen's interest rate is 8%. a. Pay $180,000 on...
-
What is the first step in using jQuery? a. Link the .js file that contains the library to your HTML document. b. Create a selector. c. Enter a method name. d. Enter method parameters.
-
If \(r\) is a CIR process and \(Z=r^{\alpha}\), prove that \[d Z_{t}=\left(\alpha Z_{t}^{1-1 / \alpha}\left(k \theta+(\alpha-1) \sigma^{2} / 2 ight)-Z_{t} \alpha k ight) d t+\alpha Z_{t}^{1-1 /(2...
-
The nuclei of \({ }^{4} \mathrm{He}\) and \({ }^{16} \mathrm{O}\) are very stable and are often referred to as "doubly magic" nuclei. Use what you know about energy levels to explain what is special...
-
Are the following decays possible? If not, why not? a. \({ }_{90}^{232} \mathrm{Th} ightarrow{ }_{92}^{236} \mathrm{U}+\alpha\) b. \({ }_{94}^{238} \mathrm{Pu} ightarrow{ }_{92}^{236}...
-
Identify the unknown \(\mathrm{X}\) in the following decays: a. \({ }_{86}^{222} \mathrm{Rn} ightarrow{ }_{84}^{218} \mathrm{Po}+\mathrm{X}\) b. \({ }_{88}^{228} \mathrm{Ra} ightarrow{ }_{89}^{228}...
-
Identify the unknown isotope \(\mathrm{X}\) in the following decays. a. \(\mathrm{X} ightarrow{ }^{224} \mathrm{Ra}+\alpha\) b. \(\mathrm{X} ightarrow{ }^{207} \mathrm{~Pb}+\mathrm{e}^{-}\) c. \({...
-
In Problem find a standard form for the absorbing Markov chain with the indicated transition diagram. A B .3 .5 C .4
-
1. What are some current issues facing Saudi Arabia? What is the climate for doing business in Saudi Arabia today? 2. Is it legal for Auger's firm to make a payment of $100,000 to help ensure this...
-
Suppose that an intangible asset is being amortized over a ten-year time period but a competitor has just introduced a new product that will have a serious negative impact on the assets value. Should...
-
Roberto is the plant superintendent of a small manufacturing company that is owned by a large corporation. The corporation has a policy that any expenditure over $1,000 must be approved by the chief...
-
Roberto is the plant superintendent of a small manufacturing company that is owned by a large corporation. The corporation has a policy that any expenditure over $1,000 must be approved by the chief...
-
Assume that we have a Ridge regression problem with only one predictor, and the true model is linear without an intercept, i.e. Y = X + e. Assume that we have In samples, (xi, y), (x2, Y2), . . .,...
-
Please write a program that calculates the final score of multiple students using different weight of exams and assign their final grade using the following criteria: If the average grade is 90 or...
-
Write a program to create a file named "MyFile.txt". Store the following information in the file. Name Mlido Zodwa Phumla Tom Surname Samsons Bardwell Harrison Mpisane ITS Number 402106372 402103053...
Study smarter with the SolutionInn App