The financial statements of M&S are presented in Appendix E. The company’s complete annual report, including the notes to the financial statements, is available online.

Instructions

Refer to M&S’s financial statements and the accompanying notes to answer the following questions.

a. What criteria does M&S use to classify “Cash and cash equivalents” as reported in its statement of financial position?

b. As of 1 April 2017, what balances did M&S have in cash and cash equivalents? What were the major uses of cash during the year?

c. What amounts related to trade receivables does M&S report? Does M&S have any past due but not impaired receivables?