Obtain General Electric's 2016 annual report either through the ''Investor Relations'' portion of its website (do a

Question:

Obtain General Electric's 2016 annual report either through the ''Investor Relations'' portion of its website (do a web search for GE investor relations) or go to www.sec.gov and click ''Company Filings Search'' under ''Filings.''

Required:

1. Determine the amounts in the accounting equation for the most recent year.

2. What is the normal balance for the following accounts?

a. Current Receivables

b. Short-Term Borrowings

c. Sales of Services

d. Property, Plant, and Equipment-Net

e. Cost of Goods Sold

f. Inventories

g. Retained Earnings

3. Identify the additional account that is most likely involved when:

a. Accounts Payable is decreased.

b. Accounts Receivables is increased.

c. Common Stock is increased.

d. Wages Payable is increased.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on... Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...