a. The statement is entitled Consolidated Balance Sheets.'' What does it mean to have a consolidated balance

a. The statement is entitled ‘‘Consolidated Balance Sheets.'' What does it mean to have a consolidated balance sheet?

b. 1. What is the gross amount of current receivables at September 27, 2008?

2. What is the allowance for doubtful accounts and September 27, 2008?

3. Why are some receivables classified as other noncurrent assets?

c. 1. Parks, resorts, and other property, at cost'what is the total cost amount at September 27, 2008? (Do not include projects in progress or land).

2. Are projects in progress and land depreciated?

d. 1. Intangible assets'why are some amortized and some not amortized?

2. What is the accumulated amortization at September 27, 2008?

e. 1. What is the amount of total assets at September 27, 2008?

2. What are the total current assets at September 27, 2008?

3. What is the total inventory at September 27, 2008? Does the inventory method appear to be conservative? Comment.

f. 1. Comment on the use of estimates.

g. 1. Why are advertising expenses expensed as incurred?

h. 1. Are cash and cash equivalents presented conservatively? Comment.

i. Revenue recognition; comment on the following:

1. Broadcast advertising revenues

2. Revenues from advance theme park ticket sales

3. Revenues from the theatrical distribution of motion pictures

4. Merchandise licensing advances and guarantee royalty payments

5. Why the use of several revenue recognition methods?

6. Are the revenue recognition methods industry-specific?

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CONSOLIDATED BALANCE SHEETS (In millions, except per share data) September 27, 2008 2007 ASSETS Current Assets Cash and cash equivalents Receivables Inventories Television costs Deferred income taxes Other current assets S 3,00 3,670 5,032 641 559 862 550 11,314 5,123 995 5,373 1,124 541 1,024 603 11,666 5,394 1,563 Total Current Assets Film and television costs Investments Parks, resorts and other property, at cost Attractions, buildings and equipment Accumulated depreciation 30,260 16,310 (15,145) 15,115 1,147 31,493 15,183 1,169 Projects in progress Land Intangible assets, net Goodwill Other assets 17,532 2,428 22,151 1,763 6497 17,433 2,494 22,085 1,484 60,928