http://lectures.mhhe.com/connect/0078025915/appendix_a.pdf

Refer to the financial statements of The Home Depot in Appendix A.

Required:

1.	On what dates did the companys 2013 and 2012 fiscal years end?

Current

Prior

	February 2, 2014 February 3, 2013
	December 31, 2013 December 31, 2012
	February 3, 2013 February 2, 2012
	January 31, 2014 January 31, 2013

2.

Which of the following are the amounts in the companys accounting equation (A = L + SE) for the 2013 fiscal year end?

	$78,812 = $5,385 + $73,427
	$15,279 + $23,348 = $40,518
	$41,084 = $23,307 + $17,777
	$40,518 = $27,996 + $12,522

3.

What is the companys current ratio at February 2, 2014?

	1.45
	0.38
	0.70
	1.42

4.

What does the companys current ratio in requirement 3 indicate?

	Less than half of the company's liabilities are current.
	Less than half of the company's assets are current.
	The company has less than one dollar of current assets for every dollar of liabilities due in the next year.
	The company has more than one dollar of current assets for every dollar of liabilities due in the next year.