Fin3-chap-3.docx - Financial Reporting a What were M&Ss...

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Financial Reporting a. What were M&S’s total assets at March 30, 2013? At March 31, 2012? M&S’s total assets at March 31, 2012 is 7,273.2 million and at March 30, 2013 is 7,567.7 million. b. How much cash (and cash equivalents) did M&S have on March 30,2013? M&S’s cash and cash equivalents on March 30, 2013 totaled 193.1 million. c. What were M&S’s selling and administrative expenses in 2013? In 2012? According to M&S’s notes to financial statements, M&S incurred selling and administrative expenses of 3,021.9 million and 3,107 million on 2012 and 2013 respectively. d. What were M&S’s revenues in 2013? In 2012? M&S’s revenues in 2012 and 2013 are 9,934.3 million and 10,026.8 million respectively. e. Using M&S’s financial statements and related notes. Identify items that may result in adjusting entries for prepayments and accruals. The accounts, Prepayments and accrued income in Trade and other receivables, and Accruals and deferred income in Trade and other payables, are the items that may result for adjusting entries. Depreciation expense can also result in adjusting entries for deferrals.
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