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Answer the following four Questions:
Partial Balance Sheet and Cash Flow Statement
February 28,
Balance Sheet (dollars in millions)
2012
2011
Assets
Total current assets.
$7,987
$6,901
Property, plant, and equipment
4,831
4,197
Less: Accumulated depreciation
2,124
1,729
Goodwill
555
512
Year Ended
Statement of Cash Flows (dollars in millions)
Operating activities:
Net income
$1,148
$986
Noncash items affecting net income:
Depreciation
460
458
Investing activities:
Additions to property, plant, and equipment
(713)
(619)
1. How much was Avril's cost of plant assets at February 28, 2012? How much was the book value of plant assets? Show computations.
2. The financial statements give three evidences that Avril purchased plant assets and goodwill during fiscal year 2012. What are they?
3. Prepare T-accounts for Property, Plant, and Equipment; Accumulated Depreciation, and Goodwill. Then show all the activity in these accounts during 2012. Label each increase or decrease and give its dollar amount. During 2012, Avril sold plant assets that had cost the company $79 million (accumulated depreciation on these assets was $65 million.) Assume goodwill was not impaired during 2012.
4. (Independent of the information in Requirement 3) Avril reviews its assets for impairment annually. On February 28, 2012, the fair value of the goodwill is estimated at $450 million. Prepare the journal entry to record the impairment.
Base on best buy 10-K form and other sourse to answer following question. List five groups that use a company's annual report and explain the reason for each group's interest in this report.
Advise Jim as to his legal position. Does a contract exist - case law and the relevant sections of any applicable legislation.
Indicate whether each situation would be included in the income statement in continuing operations (CO) or below continuing operations (BC), or if it would appear as an adjustment to retained earnings (RE).
Evaluate the yield that Trevor would earn by selling the bonds today. Evaluate the present value of $4,300 under each of the subsequent rates and periods.
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Evaluate the firm's sales, net income, and net cash flow
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Indicate which of the control activities that follow applies to each of the improvements in the internal control system. Explain why each new control activity is an improvement over the activities of the old system.
What analysis did you use to select the target or targets? Identify and evaluate sources of debt and/or equity financing, determine optimal target capital structure, and determine how the parent will pay for the acquisition.
The Perpetual Life Insurance Co is trying to sell you an investment policy that will pay you and your heirs $11,707 per year forever. Suppose the Perpetual Life Insurance Co. told you the policy costs $198,190. At what interest rate would this be a f..
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