For this question you must use the excerpts from the Balance Sheet of The Wendys Company, found in Appendix 1 of Discovering Accounting. On its Balance Sheet, Wendys has accounts and notes receivable, net. What is the difference between accounts receivable and notes receivable? What does net mean?

On its Balance Sheet, Wendys has prepaid expenses. What are prepaid expenses?

Does Wendys have any subsidiaries? How would you know from looking at the Balance Sheet?

On its Balance Sheet, Wendys has current portion of long-term debt. What does this represent?

How many common shares does Wendys have authorized? How many common shares does Wendys have issued? Is the number of issued shares the same as the number of outstanding shares? How do you know?

On its Balance Sheet, Wendys has additional paid-in capital. What is additional paid-in capital? What kinds of transactions use this account?