Questions from Financial Reporting

Q: Refer to the 2014 General Electric Retiree Health and Life Benefits disclosure

Refer to the 2014 General Electric Retiree Health and Life Benefits disclosure appearing in Exhibit 14.6. 1. Reconstruct the journal entries that GE would have made in 2014 to record the effects of it...

Q: The following tables were excerpted from Pepsico’s 2015 Form 10-K

The following tables were excerpted from Pepsico’s 2015 Form 10-K. All amounts are in millions of dollars and the deferred tax asset and liability amounts are as of December 31 of th...

Q: Edited excerpts from Alphabet Inc.’s (parent of Google)

Edited excerpts from Alphabet Inc.’s (parent of Google) 2015 tax note follow: Required: 1. Prepare the book journal entry for income tax expense for 2015 (combine U.S., foreign, a...

Q: lululemon athletica and Under Armour are both in the athletic apparel business

lululemon athletica and Under Armour are both in the athletic apparel business. But the two companies’ depreciation methods differ. The following explanations were excerpted from the...

Q: ABC Inc. is in the business of airframe maintenance, modification

ABC Inc. is in the business of airframe maintenance, modification and retrofit services, avionics and aircraft interior installations, the overhaul and repair of aircraft engines, and other related se...

Q: Excerpts from Starbucks Corporation’s tax note from the company’s Form 10-

Excerpts from Starbucks Corporation’s tax note from the company’s Form 10-K for the year ended September 27, 2015, follow. Required: 1. Provide a journal entry...

Q: The following partial income statement and income tax note excerpts were taken

The following partial income statement and income tax note excerpts were taken from Sirius XM Inc.’s 2012 Form 10-K. During 2012, Sirius XM eliminated most of the valuation allowan...

Q: Under Armour, a maker of athletic sportswear, had a tax

Under Armour, a maker of athletic sportswear, had a tax provision of about $134 million in 2014. Following is the 2014 note disclosure for Under Armour’s uncertain tax positions. Provision for Income...

Q: Lufthansa Group operates an international airline based in Germany. Lufthansa files

Lufthansa Group operates an international airline based in Germany. Lufthansa files its annual reports under International Financial Reporting Standards (IFRS). In its 2012 Annual Report to shareholde...

Q: By July 1, 2018, the market yield on the Akers

By July 1, 2018, the market yield on the Akers Company bonds described in E11–1 had risen to 10%. Required: What was the bonds’ market price on July 1, 2018?