Examine Riversides assets. 1. What is Riversides largest category of assets? List all 2013 assets in the
Question:
1. What is Riversides largest category of assets? List all 2013 assets in the largest category and their amounts as reported by Riverside.
2. What was Riversides cost of property and equipment at May 31, 2013? What was the book value of property and equipment on this date? Why is book value less thancost?
Transcribed Image Text:
Riverside Corporation Consolidated Balance Sheets (Partial, Adapted) May 31, (In millions) Assets 2013 2012 2 Current assets 3 Cash and cash equivalents 4 Receivables, less allowances of $144 and $125 Spare parts, supplies, and fuel Prepaid expenses and other 2,088 S 257 2,770 2,623 4,653 4,509 423 7,812 467 9.978 7 Total current assets 8 Property and equipment, at cost 2,392 2,392 Aircraft Package handling and ground support equipment Computer and electronic equipment Vehicles Facilities and other 10 12,22912,132 28,159 26,102 452 581 12 13 14 15 16 17 Other long-term assets 18 19 Prepaid pension cost 1432 1,589 44,79342,66 (14,900) (12,944) 29,893 29,723 Total cost Less: Accumulated depreciation Net property and equipment Goodwill 722 722 1,340 1,271 Intangible and other assets 329 21 Total other long-term assets 2,391 2,326 2,326 22 Total assets $ 42,262 39,861
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 42% (14 reviews)
1 Property and Equipment at Cost Millions Aircraft 2392 Package handling and ground su...View the full answer
Answered By
Branice Buyengo Ajevi
I have been teaching for the last 5 years which has strengthened my interaction with students of different level.
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Financial accounting
ISBN: 978-0132751124
9th edition
Authors: Walter T. Harrison Jr., Charles T. Horngren, C. William Thom
Question Posted:
Students also viewed these Accounting questions
-
Examine Riverside's assets as follows: 1. What is Riverside's largest category of assets? List all 2017 assets in the largest category and their amounts as reported by Riverside. 2. What was...
-
The trial balance for LPO at 31 December 2013 was as follows: Notes: (i) Closing inventory at 31 December 2013 was $562,000. (ii) On 31 December 2013, LPO disposed of some obsolete plant and...
-
Shauna immigrated to Canada in her 30s and has worked full time earning above YMPE throughout. Now she is a few years from retirement and has found out that her monthly OAS at age 65 will be $520....
-
Explain the key components of 'core' goodwill.
-
Identify the type of cash flow activity for each of the following events (operating, investing, or financing): a. Sold equipment. b. Issued bonds. c. Issued common stock. d. Paid cash dividends. e....
-
An ideal fluid flows past an infinitely long, semicircular "hump" located along a plane boundary, as shown in Fig. P6.58. Far from the hump the velocity field is uniform, and the pressure is...
-
a. Sammys Seashore Supplies rents beach equipment such as kayaks, canoes, beach chairs, and umbrellas to tourists. In Chapter 2, you wrote an application that prompts the user for the number of...
-
A block of mass=315g is dragged with a string across a rough horizontal table. The string tension is=2.97,and it pulls upward at an angle of 46.0 with the horizontal. At one particular instant, the...
-
A layer of sand extends from ground level to a depth of 9 m and overlies a layer of clay, of very low permeability, 6 m thick. The water table is 6 m below the surface of the sand. The saturated unit...
-
This case is based on the consolidated financial statements of RadioShack Corporation given in Appendix B at the end of this book. 1. Read Note 4: Acquisitions. Does RadioShack Corporation own any...
-
Advanced Automotive pays $210,000 for a group purchase of land, building, and equipment. At the time of acquisition, the land has a current market value of $66,000, the buildings current market value...
-
(a) Find the momentum of a 4.00-cm-wavelength microwave photon. (b) Discuss why you expect the answer to (a) to be very small.
-
After falling from rest from a height of 30 m, a 0.50-kg ball rebounds upward, reaching a height of 20 m. If the contact between ball and ground lasted 2.0 ms, what average force was exerted on the...
-
A syringe has an area of 0.8 cm2 at its barrel and then narrows down to an area of 0.11 mm2 at the needle end. If a force of 5.1 N is applied to the syringe, what is the force produced at the tip of...
-
An athlete training for an event does 5.78 x 10^ 4 J of work during a workout and gives off 3.57 x 10^ 5 J of heat. Consider the athlete to be like a heat engine. What is his efficiency?
-
31) (a) Prove that A(n) - A(0) = I1 + I2 + ... + Inton louis (b) Verbally interpret the result from part (a) (c) Is it true that a(n) - a(0) = i + 12 + ... + in? Explain.
-
What is the intial velocity vector if a ball covered 2 5 m horizontally in a 2 second flight?
-
Consider this table: with FDs Is this table in 1NF, 2NF, 3NF? Decompose the table if necessary.
-
Suppose that a company has 10.000 outstanding shares in the beginning of the year. On April 1st, the company increases its shares by 6.000. On July 1st, the company increases its shares again, but...
-
Briefly explain flexible budget.
-
Explain each of these important terms in issuing bonds: (a) Face value. (b) Contractual interest rate. (c) Bond certificate.
-
(a) What is a convertible bond? (b) Discuss the advantages of a convertible bond from the standpoint of the bondholders and of the issuing corporation.
-
Phil and Mason are discussing how the market price of a bond is determined. Phil believes that the market price of a bond is solely a function of the amount of the principal payment at the end of the...
-
In what ways does HR assist managers in handling employee performance issues or conflicts within their teams? What role does HR play in helping managers navigate challenges related to allegations and...
-
Why is A/B testing so useful for marketing, and digital marketing in particular? Give at least two examples of A/B testing for marketing purposes. Give a null and alternative hypothesis for one of...
-
Define the following sets (30 points) (a) X = {(x, y) = R: y = f(x) = 3x + 3y 42} =1 (b) Y={(x, y) = R: y = f(x) = 2x + 2y 42} (c) Z = XUY (d) Prove whether or not each set defined above is convex?
Study smarter with the SolutionInn App