Using P&G’s financial statements and related notes, identify items that may result in adjusting entries for deferrals and accruals.

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Accounting

Chapter 2 ACT301

Discussion and response

Answer the following discussion question and write a response to the other student. In a positive way and directly at them. DO NOT DO QUESTION 1 and 2 AS OTHER STUDENT HAS ALREADY DONE THOSE, PICK 2 OTHER QUESTIONS!!!!! The other student post can also be used as an example on how to write yours but of course in your own words and differently.

All chapter resources are attached and videos are below

Video 1 https://youtu.be/zLmILAQEpoY

Video 2 https://youtu.be/X2MlBoniz-o

 

 

After carefully reviewing this week’s lecture materials (videos, PPT lectures, and articles), please respond to the following question(s):

Problem adopted from Kieso Textbook 17e

The financial statements of P&G are presented in Appendix B of your textbook (IT IS ATTACHED AS PDF NAMES APPENDIX B). The company’s complete annual report, including the notes to the financial statements, is available online.

Refer to these financial statements and the accompanying notes to answer one or more of the following questions, please choose a different question than your classmates.

  1. What were P&G’s total assets at June 30, 2017? At June 30, 2016?
  2. How much cash (and cash equivalents) did P&G have on June 30, 2017?
  3. What were P&G’s research and development costs in 2016? In 2017?
  4. What were P&G’s revenues in 2016? In 2017?
  5. Using P&G’s financial statements and related notes, identify items that may result in adjusting entries for deferrals and accruals.
  6. What were the amounts of P&G’s depreciation and amortization expense in 2015, 2016, and 2017?

Note: Please post your original response by Wednesday and respond to at least 2 peers by Sunday. In addition, follow APA guidelines and cite at least 1 resource to support your discussions; be sure to include a reference section at the end of your post. 

 Response to student 1 (please write a response to her answering questions 1 and2, positive and see if it is done correctly)

  1. What were P&G’s total assets at June 30, 2017? At June 30, 2016?

(In millions) $120,406 and $127,136, respectively. (Pg 8-3, Kieso, 02/2019)

  1.  How much cash (and cash equivalents) did P&G have on June 30, 2017?

(In millions) $5,569 (Pg 8-3, Kieso, 02/2019)

Kieso, D. E., Weygandt, J. J., & Warfield, T. D. (2019). Chapter 3. In Intermediate accounting IFRS (pp. 8–3). essay, John Wiley & Sons, Inc.