(Answered) Question the financial statements of marks and spencer plc

Accounting

Question: The financial statements of Marks and Spencer plc (M&S) are available at the book's companion website or can be accessed at http://annualreport.marksandspencer.com/_assets/downloads/Marks-andSpencer-Annual-report-and-financial-statements-2012.pdf

Instructions: Refer to M&S's financial statements and the accompanying notes to answer the following questions.

(a) What criteria does M&S use to classify "Cash and cash equivalents" as reported in its statement of financial position?

(b) As of 31 March 2012, what balances did M&S have in cash and cash equivalents? What were the major uses of cash during the year?

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