Refer to Panera Bread's and Chipotle's financial statements reprinted at the back of the book. Using the
Question:
Refer to Panera Bread's and Chipotle's financial statements reprinted at the back of the book. Using the companies' balance sheets and accompanying notes, write a response to the following questions:
Required
1. Determine Panera Bread's and Chipotle's current ratio for fiscal years 2015 and 2014. What do the ratios indicate about the liquidity of the company?
2. How do the current liabilities of the two companies compare?
3. Refer to the companies' notes. Do the companies have any contingent liabilities for lawsuits or litigation? If so, how were these contingent liabilities treated on the financial statements?
Contingent liabilitiesA contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a... Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
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1 Panera Bread Company for 2015 Current assets 502789000Current liabilities 399...View the full answer
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Saikumar Ramagiri
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Related Book For 
Using Financial Accounting Information The Alternative to Debits and Credits
ISBN: 978-1337491471
10th edition
Authors: Gary A. Porter, Curtis L. Norton
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