Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Use professional judgment in deciding on the preliminary judgment about materiality for earnings, current assets, current liabilities, and total assets. Your conclusions should be stated

image text in transcribed

Use professional judgment in deciding on the preliminary judgment about materiality for earnings, current assets, current liabilities, and total assets. Your conclusions should be stated in terms of percents and dollars.

lease ?

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION NUQUL INDUSTRIES (IN THOUSANDS) Assets March30,March31,20202021, Current assets Cash Temporary investments, including time deposits of $39,683123,421$37,566271,639 $65,361 in 2012 and $181,589 in 2011 (at cost, which approximates market) Receivables, less allowances of $16,808 in 2012899,752759,001 and $17,616 in 2011 Inventories Finished product Raw materials and supplies Deferred income tax benefits Prepaid expenses Current assets accumulated depreciation Investments in affiliated companies and sundry assets Goodwill and other intangible assets Total 2. Liabilities and Stockholders' Equity March 30, 2021 March 31, 2020 Current liabilities Notes payable Current portion of long-term debt Accounts and drafts payable Accrued salaries, wages, and vacations Accrued income taxes Other accrued liabilities Current liabilities Long-term debt Other noncurrent liabilities Deferred income taxes Stockholders' equity and 50,992,410 in 2011 Additionalpaid-incapital149,177148,584 Cumulative foreign currency translation (76,572) adjustment Retained earnings 1,554,1701,462,723 Common stock held in treasury, at cost, (51,967)(51,967) 1,566,598 shares Stockholders' equity Total

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Trust Me Im Almost An Auditor

Authors: Lily Hazelwood

1st Edition

1791960405, 978-1791960407

More Books

Students also viewed these Accounting questions