ACNT 1371 PRINT UPGRADE
10th Edition
ISBN: 9781260906554
Author: SPICELAND
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Visit www.sec.gov/edgar and search for the BJ's Wholesale annual report (10-K) for the year ended February 1, 2020, using EDGAR
(Electronic Data Gathering, Analysis, and Retrieval system). Search or scroll within the annual report to find the balance sheet, labeled
"Consolidated Balance Sheets."
Required:
1. Find the amounts reported for accumulated depreciation for the period ended February 1, 2020, and February 2, 2019. Assuming
no depreciable assets were sold during the year, determine the adjustment for BJ's depreciation for the year and compute the
adjusted balances of the related accounts.
2. For simplicity, assume the entire amount reported for "Prepaid expenses and other current assets" represents the balance of the
Supplies account. If the year-end balance of the Supplies account prior to any adjustment is $200,000 (in thousands), determine
the adjustment that was made to Supplies (and Supplies Expense) at the end of the current year and compute the adjusted
balances of the…
How do I find the ROA (return over assets for year 2021 and 2020?
Prepare the income statements and balance sheets for years 2018 and 2019 for Thompson Company using the following information. The balance sheet numbers are at the end of year figures.Item20182019Accounts Payable120.0150.0Accounts Receivable150.0180.0Accumulated Depreciation330.0360.0Cash & Cash Equivalents10.012.0Common Stock150.0200.0Cost of Goods Sold750.0850.0Depreciation25.030.0Interest Expense30.033.0Inventory200.0180.0Long-term Debt150.0150.0Gross Plant & Equipment650.0780.0Retained Earnings208.5225.0Sales1,500.01,700.0SG&A Expenses500.0570.0Notes Payable51.567.0Tax Rate21%21%(2) Answer the following questions:(a) How much did Thompson Company spend in acquiring fixed assets in 2019?(b) How much dividend did Thompson Company pay out during 2019?(c) Using the end of year numbers, did the long-term solvency ratios improve or deteriorate from 2018 to 2019? Answer this question using at least two long-term solvency ratios.(d) Using the end of year numbers, did the asset…
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