The financial statements and accompanying notes of Reitmans (Canada) Limited are presented in Appendix A at the

Question:

The financial statements and accompanying notes of Reitmans (Canada) Limited are presented in Appendix A at the end of this book.

Instructions

(a) What classifications does Reitmans use in its balance sheet?

(b) In what order are Reitmans' current assets listed? Its non-current assets?

(d) Reitmans' working capital, current ratio, and acid-test ratio for the fiscal year 2012 are calculated in the chapter. Calculate its working capital, current ratio, and acid-test ratio for the fiscal year 2011. Compare the 2012 figures with the 2011 results and comment on the differences.

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...