Locate the 2009 Form 10-K for Wal-Mart in Appendix A and consider the following questions:
1. Find Wal-Mart’s 2009 income statement. Assume that operating, selling, general, and administrative expenses were paid in cash. What journal entry did Wal-Mart make in 2009 to record these expenses?
2. Find Wal-Mart’s 2009 cash flow statement. What journal entry did Wal-Mart make in 2009 to record the issuance of long-term debt?
3. Again, looking at the cash flow statement, what journal entry did Wal-Mart make in 2009 to record the purchase of property and equipment?