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chapter_5_solution - Homework#4(continued Chapter 5...

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Homework #4 (continued) Chapter 5 Problems E5-1 Matching Players in the Accounting Communication Process with Their Definitions LO1 Match each player with the related definition by entering the appropriate letter in the space provided. A. Adviser who analyzes financial and other economic information to form forecasts and stock recommendations. B. Financial institution or supplier that lends money to the company. C. Chief executive officer and chief financial officer who have primary responsibility for the information presented in financial statements. D. Independent CPA who examines financial statements and attests to their fairness. E. Securities and Exchange Commission, which regulates financial disclosure requirements. F. A company that gathers, combines, and transmits (paper and electronic) financial and related information from various sources. G. Individual who purchases shares in companies. H. Manager of pension, mutual, and endowment funds that invests on the behalf of others. Definitions Players E 1. SEC D 2. Independent auditor H 3. Institutional investor C 4. CEO and CFO B 5. Creditor A 6. Financial analyst G 7. Private investor F 8. Information service E5-6 Preparing and Interpreting a Classified Balance Sheet with Discussion of Terminology (Challenging) LO3 Lance, Inc., manufactures, markets, and distributes a variety of snack foods. Product categories include sandwich crackers, cookies, restaurant crackers and bread basket items, candy, chips, meat snacks, nuts, and cake items. These items are sold under tradenames including Lance, Toastchee, Toasty, Choc-O-Lunch, Captain's Wafers, and Cape Cod. Presented here are the items listed on its recent balance sheet (in millions) presented in alphabetical order: Accounts payable $14,100 Inventories 23,000 Accounts receivable, net 47,600 Long-term debt 64,000 Accrued compensation 8,700 Other assets (noncurrent) 3,200
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Accrued postretirement health care costs 11,200 Other current assets 4,200 Additional paid-in capital 4,800 Other intangible assets, net 11,000 Cash and cash equivalents 1,290 Other long-term liabilities 28,800 Common stock, 28,947,222 shares outstanding 24,300 Other payables and accrued liabilities 16,000 Current portion of long-term debt
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chapter_5_solution - Homework#4(continued Chapter 5...

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