This case is based on the Foot Locker, Inc s consolidated balance sheets, consolidated statements of cash flows, and Footnote 6 of its financial statements in Appendix B at the end of this book 1 What securities are included in Foot Lockers Short term investments What type of securities are they 2 ...

Req 1 According to Footnote 6 at the end of fiscal 2006 Foot Locker Inc owned tax exempt municipal b ...

This case is based on the Foot Locker, Inc. s consolidated balance sheets, consolidated statements of cash

Question:

This case is based on the Foot Locker, Inc. s consolidated balance sheets, consolidated statements of cash flows, and Footnote 6 of its in Appendix B at the end of this book.
1. What securities are included in Foot Lockers Short-term investments? What type of securities are they?
2. Make a T-account for Short-term investments. Record $249 as the balance in the account as of the end of 2006. Using the information in the investments section of the Consolidated Statement of Cash Flows, record the cash purchases and sales of short-term investments during 2007. Why doesn’t the ending balance equal the amount shown on the as of the end of 2007?

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... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...