Question: I am working on a project for an accounting class and need to fill in balance sheet like the one below but mine is for

I am working on a project for an accounting class and need to fill in balance sheet like the one below but mine is for Amazon. the one for Kohl's is just an example. The info for amazon is on this website.https://www.sec.gov/cgi-bin/viewer?action=view&cik=1018724&accession_number=0001018724-23-000004&xbrl_type=v

This is the example

Name:

Company: . Stock Ticker

Dates covered by the 10K

Balance Sheet Information

What was the total amount of inventories for the most recent fiscal year?

Merchandise inventories 3,189 3,067

What accounting method was used to determine the cost of inventory?

valued at the lower of cost or market using RIM from the notes to the financial statements

Compute the Inventory Turnover for the most current year. [Cost of Goods Sold / Average Inventory]

Cost of merchandise sold 11,457

Average Inventory (3189+3067)/2 =3128

11457/3128 = 3.66 times

  1. What was the BOOK VALUE of property, plant and equipment for the most recent fiscal year? Define book value
Property and equipment, net 7,926
  1. What accounting method was used to compute DEPRECIATION? Define Depreciation from notes the method Depreciation is calculated using the straight-line method over the estimated useful lives of the assets

  1. What is the amount of RETAINED EARNINGSon the balance sheet date?

Define retained earnings

Retained earnings 13,995

  1. How many equivalent shares of common stock were outstanding on the balance sheet date?
CONSOLIDATED BALANCE SHEETS (Parenthetical) - shares shares in Millions Jan. 28, 2023
Statement of Financial Position [Abstract]
Common stock, shares issued 378
LessTreasury stock, shares

267

111 million shares

  1. What was thePAR OR STATED VALUE per share of common stock? Define Par or stated value $.01 par value per share.
  2. Is the company authorized to issue PREFERRED STOCK? If so, how many shares are outstanding? Define Preferred Stock Our authorized capital stock consists of 800 million shares of $0.01 par value common stock and 10 million shares of $0.01 par value preferred stock .none issued
  3. What is the current ratio for the most recent fiscal year? [current assets / current liabilities] 3736/3115 = 1.2 rounded
Total current assets 3,736 5023
Total current liabilities 3,115 3,286

  1. What is the current ratio for the previous fiscal year?

5023/3289 = 1.53 rounded

  1. What does the current ratio tell you about the firm's LIQUIDITY?

Define liquidity and explain what it is telling you about the company

These are the questions I need help answering:

Balance Sheet Information 7. What was the total amount of inventories for the most recent fiscal year? 8. What accounting method was used to determine the cost of inventory? 9. Compute the Inventory Turnover for the most current year. [Cost of Goods Sold / Average Inventory 10. What was the BOOK VALUE of property, plant and equipment for the most recent fiscal year? 11. What accounting method was used to compute DEPRECIATION? 12. What is the amount of RETAINED EARNINGS on the balance sheet date? 13. How many equivalent shares of common stock were outstanding on the balance sheet date? 14. What was the PAR OR STATED VALUE per share of common stock? 15. Is the company authorized to issue PREFERRED STOCK? If so, how many shares are outstanding? 16. What is the current ratio for the most recent fiscal year? [current assets / current liabilities] 17. What is the current ratio for the previous fiscal year? 18. What does the current ratio tell you about the firm's LIQUIDITY?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!