1. How much does The Home Depot report for Cash and Cash Equivalents and Restricted Cash (in...
Question:
1. How much does The Home Depot report for Cash and Cash Equivalents and Restricted Cash (in millions) at January 29, 2017?
a. $2,538 and $2,216
b. $2,538 and $2,029
c. $17,724 and $1,235
d. $2,538 and $0
2. Accompanying the financial statements are reports issued by management and an independent registered public accounting firm regarding the company’s internal control. According to these reports, did the company maintain effective internal control over financial reporting?
a. Management concluded: yes; independent registered public accounting firm concluded: yes.
b. Management concluded: yes; independent registered public accounting firm concluded: no.
c. Management concluded: no; independent registered public accounting firm concluded: yes.
d. Management concluded: no; independent registered public accounting firm concluded: no.
Refer to the financial statements of The Home Depot in Appendix A at the end of this book. (Note: Fiscal 2016 for The Home Depot runs from February 1, 2016, to January 29, 2017. See S1-1 for further explanation.)
Financial StatementsFinancial 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...
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Fundamentals of Financial Accounting
ISBN: 978-1259864230
6th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby