Examine Riverside's assets as follows: 1. What is Riverside's largest category of assets? List all 2017 assets
Question:
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 Riverside's cost of property and equipment at May 31, 2017? What was the carrying amount of property and equipment on this date? Why is carrying amount less than cost?
Transcribed Image Text:
Riverside Corporation Consolidated Balance Sheets (Partial, Adapted) 2 May 31, 3 (in millions) 2017 2016 4 Assets 5 Current assets Cash and cash equivalents Receivables, less allowances of $144 and $125 $2,088 2,770 4,653 467 9,978 257 2,623 4,509 423 7,812 8 Spare parts, supplies, and fuel Prepaid expenses a 10 lotal current assetS and equipment, at cost Aircraft Package handling and ground support equipment Comp 12 2,392 12,132 26,102 452 1,589 42,667 14,900(12,944) 29,723 2,392 12,229 28,159 581 1,432 44,793 13 uter and electronic equipment 15 Vehicles 16 Facilities and other 17 18 19 20 Other long-term assets 21 Total cost Net property and equipment 29,893 Goodwill 722 1,340 329 2,391 $42,262 122 1,271 Prepaid pension cost 23 Intangible and other assets 24 25 Total assets 26 Total other long-term assets 2,326 39,861
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Related Book For
Financial Accounting
ISBN: 978-0134564142
6th Canadian edition
Authors: Walter Jr. Harrison, Charles T. Horngren, C. William Thomas, Greg Berberich, Catherine Seguin
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