Questions from Financial Accounting

Q: You can review the Disney SEC Form 10-K by searching

You can review the Disney SEC Form 10-K by searching for "Disney Annual Report" online, and answer the following questions: a. What is working capital, and what is the trend in Disney's working capita...

Q: United Airlines Holdings discloses two accounts on its financial statements entitled "

United Airlines Holdings discloses two accounts on its financial statements entitled "Advanced ticket sales" and "Frequent flyer deferred revenue" with 2019 balances of $4.8 billion and $2.4 billion,...

Q: The 2019 annual report for HCA Inc., a nationwide chain of

The 2019 annual report for HCA Inc., a nationwide chain of hospitals, contains the following statement in the footnotes to the financial statements: Reserves for professional liability risks were $ 1....

Q: The following excerpts were taken from the annual reports of a variety

The following excerpts were taken from the annual reports of a variety of companies: 1. The company’s reporting period ends on the Saturday closest to January 31 (The Limited). 2. Th...

Q: Several years ago in its annual report, Philip Morris Companies,

Several years ago in its annual report, Philip Morris Companies, a major manufacturer of tobacco and food products, included footnote 16, which was almost five pages long. It consisted of a number of...

Q: Lifschultz Fast Freight, which collapsed a few years ago when its

Lifschultz Fast Freight, which collapsed a few years ago when its owner died, once reported a book value of less than zero (i.e., reported liabilities exceeded reported assets). Yet the company's sha...

Q: The following quote refers to the problems of Campeau Corporation, a

The following quote refers to the problems of Campeau Corporation, a Canadian-based retail empire that later was dissolved through bankruptcy. At the time of the quote, Campeau's department store chai...

Q: Agilent Technologies Inc., a diversified technology company, sells extended warranties

Agilent Technologies Inc., a diversified technology company, sells extended warranties for the products and services provided to customers, deferring the revenue until future recognition. The followin...

Q: Abbott Laboratories, a major pharmaceutical company, reported the following current

Abbott Laboratories, a major pharmaceutical company, reported the following current liabilities in its 2019 and 2018 annual reports (dollars in millions): INSTRUCTIONS: a. Briefly describe the transac...

Q: The SEC requires additional information in the proxy statements that describe the

The SEC requires additional information in the proxy statements that describe the compensation packages of a company's top executives. A Wall Street Journal article published soon after the requiremen...