International Financial Reporting Problem

Marks and Spencer plc

IFRS3-6. The financial statements of Marks and Spencer plc (M&S) are available at the book's companion website or can be accessed at http://annualreport.marksandspencer.com/_assets/downloads/Marks-and-Spencer-Annual-report-and-financial-statements-2012.pdf.

Instructions

Refer to M&S's financial statements and the accompanying notes to answer the following questions.

(a) What were M&S's total assets at March 31, 2012? At April 2, 2011?

(b) How much cash (and cash equivalents) did M&S have on March 31, 2012?

(c) What were M&S's selling and marketing expenses in 2012? In 2011?

(d) What were M&S's revenues in 2012? In 2011?

(e) Using M&S's financial statements and related notes, identify items that may result in adjusting entries for prepayments and accruals.

(f) What were the amounts of M&S's depreciation and amortization expense in 2011 and 2012?