1. How much does Rona have recorded as prepaid expenses on the balance sheet as of December...

Question:

1. How much does Rona have recorded as prepaid expenses on the balance sheet as of December 29, 2013? Give a couple of examples of items that could make up this prepaid expense amount.
2. How much did Rona owe for accounts payable and accrued liabilities at December 29, 2013? Was this an increase or decrease from the previous year?
Refer to the financial statements of Rona Inc. in Appendix A at the back of this book or download the annual report from the Cases section of Connect.
Refer to the financial statements of Rona Inc. in Appendix A at the back of this book or download the annual report from the Cases section of Connect.
Financial statements of Rona Inc.
RONA INC.
CONSOLIDATED STATEMENTS OF INCOME
AND STATEMENTS OF OTHER COMPREHENSIVE INCOME
Years ended December, and December 29, 2013
(in thousands of Canadian dollars, except per share amounts)
CONSOLIDATED STATEMENTS OF INCOME 2013 2012 Restated (Notes 10 and 32) $4,444,175 Continuing operations Revenues (Note 4
CONSOLIDATED STATEMENTS OF OTHER COMPREHENSIVE INCOME 2013 2012 Restated (Notes 10 and 32) $ (153,014) $ 18,261 Net (los

The related notes form an integral part of these consolidated financial statements.
RONA
INC.
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Years ended December 29, 2013 and December 30, 2012
(in thousands of Canadian dollars)

(a) Additional detail of share capital is provided in Note 23.
The related notes form an integral part of these consolidated financial statements.
RONA
INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
Years ended December 29, 2013 and December 30, 2012
(in thousands of Canadian dollars)

The related notes form an integral part of these consolidated financial statements.
RONA
INC.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
as at December 29, 2013, December 30, 2012 and December 26, 2011
(in thousands of Canadian dollars)

The related notes form an integral part of these consolidated financial statements.
On
behalf of the Board,
(s) Réal Brunet......................................... (s) Robert Chevrier
Réal Brunet............................................... Robert Chevrier
Chairman of the Audit Committee .................. Executive Chairman of the Board

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...
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
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...
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Fundamentals of Financial Accounting

ISBN: 978-1259103292

4th Canadian edition

Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh

Question Posted: