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Problem 1: Provide the journal entry or entries (accounts and amounts) needed to record each transaction
a) Purchased $9,992 million worth of inventory on account.
b) Paid $200 million cash to repurchase its own stock
c) Declared and paid cash dividends of $364 million.
d) Purchased new equipment costing $702 million on account.
e) Collected $14,990 million cash from customers related to prior credit sales.
Financial Statement Analysis and Preparation
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T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .
Computation of Free Cash Flow
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