Glendale Community College Using Walmarts 10K Annual Reports Questions: Accounting Answers 2021

Glendale Community College Using Walmarts 10K Annual Reports Questions: Accounting Answers 2021

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Glendale Community College Using Walmarts 10K Annual Reports Questions

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Answers must be in complete sentences and/or paragraphs. Yes, or No is not an acceptable answer. Also, please be sure to carefully cite your sources. It is not acceptable to cut and paste from the Annual report without attribution. Where it is necessary to quote brief citations, you should use quotation marks. You should always reference where you obtained the material, for example: General Motors, 2006 Annual Report page 63.
1. Determine the amounts for total assets, total liabilities, and total stockholders? equity in the balance sheet for the most recent year. Verify that the basic accounting equation balances.2. What are the major sources of revenue for the company? (Hint: Item 1 Business under Reportable Segments)3. Determine the amounts for net sales and net income in the income statement for the most recent year.4. For investing activities, what are the largest inflows and largest outflows for the most recent year reported in the statement of cash flows? For financing activities, what are the largest inflows and largest outflows?5. Who is the company?s auditor (see the Report of Independent Registered Public Accounting Firm)? What does the report indicate about the amounts reported in the company?s financial statements?1. Is the company size increasing? Determine your answer by calculating the percentage change in total assets and percentage change in net sales for the most recent year.2. Is the total profitability increasing? Determine your answer by calculating the percentage change in net income for the most recent year.3. Did the company issue any common stock in the most recent year?4. Do you see the term debit or credit listed in the balance sheet? Which account types in the balance sheet increase with a debit and which ones increase with a credit?5. Do you see the term debit or credit listed in the income statement? Which account types in the income statement increase with a debit and which ones increase with a credit? https://www.sec.gov/ix?doc=/Archives/edgar/data/10? 10-K ANNUAL REPORT FOR WALMART

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