Acc - Rep & Any - 1. June 30th 2. Multi-step it...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
1. June 30 th 2. Multi-step – it separates operating and non-operating procedures on pg 52 of the report 3. On page 49 and 51 of the report it states retained earnings but does not give a statement of retained earnings as portrayed in the book in the report. 4. Yes, two We adopted SFAS 158, “Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans, an amendment of FASB Statements No. 87, 88, 106, and 132(R),” at June 30, 2007. We will adopt FIN 48 on July 1, 2007. 5. Adjustments to translate those statements into U.S. dollars are recorded in other comprehensive income. Currency translation adjustments in accumulated other comprehensive income were gains of $2,941 and $522 at June 30, 2007 and 2006, respectively. 6. Current Assets Goodwill & Other Intangible Assets Other Noncurrent Assets Current Liabilities Long-Term Debt Deferred Income Taxes Other Noncurrent Liabilities Shareholder’s Equity 7. They acquired Gillette 8. FIFO, LIFO, and average cost - Inventories are valued at the lower of cost or market value. Product related
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

Acc - Rep & Any - 1. June 30th 2. Multi-step it...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online