Relations between Financial Statement Items Nike's principal bus

Nike’s principal business activity involves the design, development, and worldwide marketing of high-quality footwear, apparel, equipment, and accessory products for serious and recreational athletes. Almost 25,000 employees work for the firm. Nike boasts the largest worldwide market share in the athletic-footwear industry and a leading market share in sports and athletic apparel.
This case uses Nike’s financial statements and excerpts from its notes to review important concepts underlying the three principal financial statements (balance sheet, income statement, and statement of cash flows) and relationships among them. The case also introduces tools for analyzing financial statements.
Relations
between Financial Statement Items
a. Compute the amount of cash collected from customers during 2009.
b. Compute the amount of cash payments made to suppliers of merchandise during 2009.
c. Prepare an analysis that accounts for the change in the property, plant, and equipment account and the accumulated depreciation account during 2009. You will have to plug certain amounts if Nike does not disclose them.
d. Identify the reasons for the change in retained earnings during 2009.

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...

Members

  • Access to 1 Million+ Textbook solutions
  • Ask any question from 24/7 available
    Tutors
$9.99
VIEW SOLUTION
OR

Non-Members

Get help from Accounting Tutors
Ask questions directly from Qualified Online Accounting Tutors .
Best for online homework instance.