Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Q1) Reading and Interpreting a Balance Sheet

A recent balance sheet for Walt Disney Company is provided below.

Walt Disney Company
Consolidated Balance Sheet
(In millions, except per share data)
 
 
Sep-30
2004
2003
Assets
 
 
Current Assets
$2,042
$1,583
Cash and cash equivalents
4,558
4,238
Receivables
775
703
Inventories
484
568
Television costs(current)
1,510
1,222
Other assets
9,369
8,314
Film and television costs
5,938
6,205
Investments
1,292
1,849
Parks, resorts and other property, at cost
 
 
Attractions, buildings and equipment
28,147
21,472
Accumulated deprecation
(11665)
(8794)
 
16,482
12,678
Intangible assets ,net
19,781
19,752
Other assets
1,040
1,190
Total assets
$53,902
$49,988
Liabilities and Stock holders' Equity
 
 
Current Liabilities
 
 
Accounts payable and other accured liabilities
$5,623
$5,044
Current portion of borrowings
4,093
2,457
Unearned royalties and other advances
1,343
1,168
Total current liabilities
11,059
8,669
Borrowings
9,395
10,643
Other noncurrent liabilities Minority
6,569
6,457
Minority interests
798
428
Stockholders' Equity
 
 
Common Stock
12,447
12,154
Retained earnings
15,732
13,817
Adjustments
(2,098)
(2,180)
Total stockholders' equity
26,081
23,791
Total Liabilities and stockholders' equity
$53,902
$49,988

a. Do you agree that Walt Disney's balance sheet is both classified and comparative? Describe why or why not?

b. At year-end 2004, compute percentage of total assets was composed of current assets? Had this percentage increased or decreased since year-end 2003?

c. What was Disney's amount of working capital at year-end 2004? Did it change significantly?

d. find out working capital ratio at year-end 2004 and year-end 2003. Did it improve or deteriorate between 2003 and 2004?

e. Film and television costs are amount paid to make movies or television shows. Describe why it appears in two places on the balance sheet.

f. What were amounts of total assets, total liabilities, and stockholder's equity at year-end 2004 and year-end 2003?

g. Did Disney's overall financial position improve between 2003 and 2004? Describe.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M920607

Have any Question? 


Related Questions in Accounting Basics

Define pat positive accounting theorytheoretical definition

Define PAT (positive accounting theory). Theoretical Definition of PAT and, implication and describe the limitation with the contribution and its significance. Write about the agency theory (An individual action is drive ...

Transfer pricing is the pricing of assets funds services

Transfer pricing is the pricing of assets, funds, services, etc., transferred among related organizations. Using online library resources, and the Internet, conduct research to discuss the transfer pricing regulations an ...

Accounting practice set -this case is designed to reinforce

Accounting Practice Set - This case is designed to reinforce certain technical accounting skills that are a prerequisite to a solid understanding of the generally accepted accounting principles that underlie preparation ...

Accounting discussionbulldiscuss the advantages of

Accounting Discussion • Discuss the advantages of understanding accounting as it relates to your current or future position. (Consider careers in management, sales, business operations, finance, and business ownership.)

International accountingpart 1the weeks discussion covered

INTERNATIONAL ACCOUNTING PART 1 The week's discussion covered the following International Accounting Standards (IAS): #21 The Effects of Changes in Foreign Exchange Rates #27 Consolidated and Separate Financial Statement ...

Assignment lasa ipo presentation amp myaccountinglab

Assignment: LASA: IPO Presentation & MyAccountingLab Post-Tests This assignment will consist of two parts. Part I: IPO Presentation: You work for a medium sized privately held electronics firm which is considering transi ...

Problem 1panda incs 10-k report contains the following

Problem 1 Panda Inc.'s 10-K report contains the following footnote relating to its leasing activities: At December 31, 2013, the company was committed to non-cancellable leases with remaining terms of one to 15 years. A ...

Garner company began operations on january 1 2010 and uses

Garner Company began operations on January 1, 2010, and uses the average cost method of pricing inventory. Management is contemplating a change in inventory methods for 2013. The following information is available for th ...

Consider that a company has excess cash flow google is a

Consider that a company has excess cash flow. Google is a good one to look at. Google invests in short term securities to earn something on the cash. What is another way the cash could be used to create wealth for the in ...

Last year cmc recorded a deferred tax asset related to

Last year, CMC recorded a deferred tax asset related to product warranties and a deferred tax asset related to accelerated depreciation. A 75% valuation allowance was also established. However, with an upcoming internati ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

WalMart Identification of theory and critical discussion

Drawing on the prescribed text and/or relevant academic literature, produce a paper which discusses the nature of group

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro