FINANCIAL ACCT.:TOOLS...(LL)-W/ACCESS
8th Edition
ISBN: 9781119250913
Author: Kimmel
Publisher: WILEY
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Chapter 5, Problem 5.3IFRS
To determine
Comprehensive Income Statement: Comprehensive income statement refers to the multi-step income statement that records the gains and losses from operating activities and the non-operating activities of the business.
To Prepare: The comprehensive income statement of Company M.
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The asset side of the 2017 balance sheet for the Corporation is below. The company reported total revenues of $37,728 million in 2017 and $37,047 million in 2016.
in millions
May 31, 2017
May 31, 2016
Current assets:
Cash and cash equivalents
$ 21,784
$ 20,152
Marketable securities
44,294
35,973
Trade receivables, net of allowances for doubtful accounts of $319 and $327 as of May 31, 2017 and May 31, 2016, respectively
5,300
5,385
Inventories
300
212
Prepaid expenses and other current assets
2,837
2,591
Total current assets
74,515
64,313
Non-current assets:
Property, plant and equipment, net
5,315
4,000
Intangible assets, net
7,679
4,943
Goodwill, net
43,045
34,590
Deferred tax assets
1,143
1,291
Other assets
3,294
3,043
Total non-current assets
60,476
47,867
Total assets
$134,991
$112,180
How do I figure what the company’s gross amount…
The 2017 annual report of Tootsie Roll Industries contains the following information.
(in millions)
December 31, 2017
0000
December 31, 2016
Total assets
$930.9
$920.1
Total liabilities
197.1
208.6
Net sales
515.7
517.4
Net income
80.7
67.2
Instructions
Compute the following ratios for Tootsie Roll for 2017.
a. Asset turnover.
b. Return on assets.
c. Profit margin on sales.
d. How can the asset turnover be used to compute the return on assets?
Oman Insurance Corporation, the insurer, reported net income of $ 333.3 million for 2015. It also reported gains on investments of $ 340,5 million and foreign currency translation gains of $ 106 million, both as part of other comprehensive income in its Statement of Shareholders Equity. What was Oman Insurance Corporation's comprehensive income for 2015 Selectione a. $ 7793 million b. Se 3 milion OG 97793 motor S93 dhon
Chapter 5 Solutions
FINANCIAL ACCT.:TOOLS...(LL)-W/ACCESS
Ch. 5 - Prob. 1QCh. 5 - Prob. 2QCh. 5 - Prob. 3QCh. 5 - Prob. 4QCh. 5 - Waymon Co. has net sales of 100,000, cost of goods...Ch. 5 - Masie Ascot believes revenues from credit sales...Ch. 5 - (a) What is the primary source document for...Ch. 5 - Prob. 8QCh. 5 - As the end of Smyle Companys fiscal year...Ch. 5 - To encourage bookstores to buy a broader range of...
Ch. 5 - Goods costing 1,900 are purchased on account on...Ch. 5 - Prob. 12QCh. 5 - Prob. 13QCh. 5 - Prob. 14QCh. 5 - Prob. 15QCh. 5 - Prob. 16QCh. 5 - Prob. 17QCh. 5 - What merchandising account(s) will appear in the...Ch. 5 - What types of businesses are most likely to use a...Ch. 5 - Prob. 20QCh. 5 - In the following cases, use a periodic inventory...Ch. 5 - Prob. 22QCh. 5 - What factors affect a companys gross profit...Ch. 5 - Prob. 24QCh. 5 - Prob. 25QCh. 5 - On July 15, a company purchases on account goods...Ch. 5 - Presented here are the components in Salas...Ch. 5 - Prob. 5.2BECh. 5 - Prob. 5.3BECh. 5 - Prob. 5.4BECh. 5 - Prob. 5.5BECh. 5 - Explain where each of these items would appear on...Ch. 5 - Prob. 5.7BECh. 5 - Prob. 5.8BECh. 5 - Prob. 5.9BECh. 5 - Prob. 5.10BECh. 5 - Prob. 5.11BECh. 5 - Prob. 5.12BECh. 5 - Prob. 5.13BECh. 5 - Prob. 5.14BECh. 5 - Prob. 5.1DIECh. 5 - Prob. 5.2DIECh. 5 - Prob. 5.3DIECh. 5 - Prob. 5.4DIECh. 5 - Prob. 5.5DIECh. 5 - Prob. 5.6DIECh. 5 - Prob. 5.1ECh. 5 - Assume that on September 1, Office Depot had an...Ch. 5 - Prob. 5.3ECh. 5 - Prob. 5.4ECh. 5 - Prob. 5.5ECh. 5 - Prob. 5.6ECh. 5 - Prob. 5.7ECh. 5 - Prob. 5.8ECh. 5 - Prob. 5.9ECh. 5 - Prob. 5.10ECh. 5 - Prob. 5.11ECh. 5 - Prob. 5.12ECh. 5 - Prob. 5.13ECh. 5 - Prob. 5.14ECh. 5 - Prob. 5.15ECh. 5 - Prob. 5.1APCh. 5 - Prob. 5.2APCh. 5 - Prob. 5.3APCh. 5 - Prob. 5.4APCh. 5 - Prob. 5.5APCh. 5 - Prob. 5.6APCh. 5 - Prob. 5.7APCh. 5 - Prob. 5.8APCh. 5 - Prob. 5.9APCh. 5 - Prob. 5.1CACRCh. 5 - Prob. 5.2CACRCh. 5 - Prob. 5.1EYCTCh. 5 - Prob. 5.2EYCTCh. 5 - Prob. 5.3EYCTCh. 5 - Prob. 5.4EYCTCh. 5 - Prob. 5.6EYCTCh. 5 - Prob. 5.7EYCTCh. 5 - Prob. 5.8EYCTCh. 5 - Prob. 5.9EYCTCh. 5 - Explain the difference between the...Ch. 5 - For each of the following income statement line...Ch. 5 - Prob. 5.3IFRSCh. 5 - Prob. 5.4IFRS
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