Kerrigan_MollyApplied Case Assignment 2.docx - ACCT 607 Name Molly Kerrigan Applied Case Assignment#2(Chapters 2 and 3 Refer to the financial statements

Kerrigan_MollyApplied Case Assignment 2.docx - ACCT 607...

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ACCT 607 Name Molly Kerrigan Applied Case Assignment #2 (Chapters 2 and 3) Refer to the financial statements included in McCormick & Company, Incorporated’s ( NYSE: MKC; Sparks, MD; hereafter, “McCormick” or “the Company”) 2014 Annual Report to answer the following questions. This document is available online at: ? item=UGFyZW50SUQ9MjY4MzE3fENoaWxkSUQ9LTF8VHlwZT0z&t=1 1. (a) Did the Company’s “Inventories” increase or decrease over the last year? It increased from $676.9 million in 2013 to $713.8 million in 2014. (b) Were there more debits or credits to the Company’s inventory accounts during 2014? Debits 2. (a) Did the Company’s “Prepaid expenses and other current assets” increase or decrease over the last year? It decreased from $134.8 million in 2013 to $131.5 million in 2014. (b) Were there more debits or credits to the Company’s prepaid expense and other current asset accounts during 2014? Credits 3. (a) Did the Company’s “Trade accounts payable” increase or decrease over the last year?
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