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A lot to unpack! need help on these Below are the account balances (all normal) for The Home Depot, Inc. as of February 3, 2019
A lot to unpack!
Below are the account balances (all normal) for The Home Depot, Inc. as of February 3, 2019 after adjusting journal entries but before closing entries. The company's fiscal year ends on the Sunday nearest to January 31 which was February 3, 2019 for fiscal year 2018, and January 28, 2018 for fiscal year 2017. The accounts are listed in alphabetical order. All amounts are in millions of U.S. dollars. There were no new investments by stockholders during fiscal 2018. \begin{tabular}{|lr|} \hline Common stock & 89 \\ \hline Cost f goods sold & 71,043 \\ Depreciation expense & 1,800 \\ Dividends & 4,704 \\ \hline Goodwill and other long-term assets & 3,099 \\ \hline Income tax expense & 3,435 \\ \hline Interest expense & 1,314 \\ \hline Interest revenue & 93 \\ \hline Long-term debt & 16,807 \\ Merchandise inventory & 13,925 \\ \hline Net sales & 107,203 \\ \hline Other current assets & 890 \\ \hline Other current liabilities & 5,673 \\ \hline Other long-term liabilities & 2,358 \\ \hline Property and equipment & 42,939 \\ \hline Retained earnings (January 28, 2018) & 2,546 \\ \hline Selling, general and administrative expenses & 19,513 \\ \hline Unearned revenue & 1,782 \\ \hline \end{tabular} Problem 1, Part (a): Home Depot's Income Statement for the year ended February 3, 2010 (l points). Problem 1, Part (b): Home Depot's Statement of Stockholders' Equity for the year ended February 3, 2019 (5 points). Question 23 (15 points) Problem 1. Part is): Home Depor's Classified 6alance Sheet as of February 3,2019 rispoinss Question 24 (8 points) Prgblem 1, Part (d): Home Bepot's fiscal vear 2018 closing entries (8 pointsh). Question 24 (8 points) Problem 1. Part (d): Home Depot's fiscal year 2018 closing eatcies. (8 points). Paragraph 4 A) Provide the fiscal year 2018 closing journal entry (accounts and amounts) that Home Depot made to close the Revenue and Expense accounts balances. There are more lines than needed. Provide the fiscal year 2018 closing journal entry (accounts and amounts) that Home Depot made to close the Dividends account balance. Question as (5 points) Frobtem is Fart (e): Shert answer quesilens abeut Home Bebet. (5 points) Partariph B I I A H f What were the het eamings feparted on Home Depat's fiscal 2018 income statement? How much did Home Bepot pay to stockholders during fiscal year 2018 ? roblem 2 - Accrual Accounting Concepts = 10 points his question is about accruals and deferrals. Please answer each of the following: Problem 2 = AEcrual Acegunting Cencepts = 10 paints This questien is about aeruais and geferrais: Piease answer each of the foliewing: Question 36 (? peints) feyente- and expense-feesonitien are not determined by the timing of eash peseipts of eash expenditufes: fespectively: Fill in the folliwing blanks with sne Werd se that the senteneese feflect the fevente- and expense-Feeg 8 ition principles: question 26 (2 points) The fundamental reason why accrual accounting differs from cash accounting is that The funce and expense-recognition are not determined by the timing of cash receipts or cash expenditures, respectively. Fill in the following blanks with one word so that the sentencese reflect the revenue-and expense-recognition principles: Zuestion 27 ( 4 points) To make use of the above revenue and expense recognition principles, accrual Question 27 (4 points) To make use of the above revenue and expense recognition principles, accrual accounting uses accrual and deferral accounts. Below you will see several journal entries that have blank spaces instead of account titles. Each depicts either a deferral or an accrual for either a revenue or an expense. Fill in the blanks and answer the associated question for each pair of journal entries. Cash receipt after income statement impact ( 1 point per box). Question 28 (4 points) To make use of the above reventue and expense recognition principles, accrual accounting uses accrual and defertal accourits. Below you will see several jouthal entites that have blank spaces instead of account titles. Each depicts either a deferral f an accrual for either a reventue or an expense. Fill in the blanks and answer the soclated question for each pait of joumal entries. accounting uses accrual and deferral accounts. Below you will see several journal entries that have blank spaces instead of account titles. Each depicts either a deferral or an accrual for either a revenue or an expense. Fill in the blanks and answer the associated question for each pair of journal entries. Problem 3 - Journalizing and Posting Transactions - 10 points ABC adjusts and closes quarterly. Its fiscal year matches the calendar year. ABC Corporation's post-closing trial balance shows the following account balances for Cash and Accounts Receivable as of 10/1/19 (both balances are nnmal): mow tne journal entries for the following three transactions and the balances in the Cash and Accounts Receivable accounts at then end October (i.e., after recording the three transactions). Question 29 ( 2 points) On 10/3/19,ABC sells services on account totaling $5,000 ( 2 points) Question 30 (2 points) On 10/15/19, ABC receives $3,000 for services to be performed at a future date (2 points) Question 31 (2 points) An 10/30/19. ABC pays $10,000 for February 2020's rent (2 points). Question 32 (4 points) Using T-accounts, find the halance in the Cash and Accounis Receivable accounts afflef (a),(b), and (c) have been pnsted. (Note: ng need to inctude post feferences and there are more lines than are needed.) (Flease note: the T-accounis de not have the verticai lines af the disuble: thidefine at the bettem = I was unabie to add these) need help on these
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