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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

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