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Textbook: Financial Accounting/8th Edition/Libby, Libby, & Short Finding Financial Information LO4-2, 4-3, 4-4 Refer to the financial statements of Urban Outfitters in Appendix C at
Textbook: Financial Accounting/8th Edition/Libby, Libby, & Short
Finding Financial Information | LO4-2, 4-3, 4-4 | ||||
Refer to the financial statements of Urban Outfitters in Appendix C at the end of this book. | |||||
Required: | |||||
1. How much is in the Prepaid Expenses and Other Current Assets account at the end of the most recent year (for | |||||
the year ended January 31, 2012)? | (in thousands) | ||||
Where did you find this information? | |||||
2. What did the company report for Deferred Rent and Other Liabilities at the end of the most recent year (for | |||||
the year ended January 31, 2012)? | (in thousands) | ||||
Where did you find this information? | |||||
3. What is the difference between prepaid rent and deferred rent? | |||||
4. Describe in general terms what accrued liabilities are. | |||||
5. What would generate the interest income that is reported on the income statement? | |||||
6. What company accounts would not have balances on a post-closing trial balance? | |||||
7. Describe the closing entry, if any, for Prepaid Expenses. | |||||
8. What is the company's earnings per share (basic only) for the three years reported? | |||||
Year Ended: | EPS: | ||||
January 31, 2012 | |||||
January 31, 2011 | |||||
January 31, 2010 | |||||
9. Compute the company's total asset turnover ratio for the three years reported. | |||||
(Dollars in thousands.) | |||||
Fiscal Year Ended | Sales Revenue / | Average Total Assets | = Total Asset Turnover | ||
1/31/2012 | |||||
1/31/2011 | |||||
1/31/2010 | |||||
What does the trend suggest to you about Urban Outfitters? |
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