Chapter 7, Problem 5EYK

a.

To determine

Indicate the balance of cash and cash equivalents of Incorporation GM as at May 29, 2011.

b.

To determine

Indicate the change in cash and cash equivalents in 2011 for Incorporation GM.

c.

To determine

Mention the statement in the annual report that reports the changes in cash and cash equivalents, and indicate the amount of cash provided or used by (1) operating activities, (2) investing activities, and (3) financing activities.

d.

To determine

Indicate the person or group who signed off for maintaining adequate internal control of the company.

e.

To determine

Indicate the name of independent auditor who conducted the audit of Incorporation GM.

f.

To determine

Indicate the opinion expressed by the independent auditors, regarding the assessment of the financial statements.

g.

To determine

Indicate the areas of audit done by the public firm, other than the financial statements.