Question

For Walmart Inc., find the balance sheet and notes to the financial statements in the fiscal year ended on January 31, 2018 Form 10- K. The Form 10- K can be located by going to the home page of the Securities and Exchange Commission and locating the SEC EDGAR Database. The address for the home page is www. sec. gov. Using the information you find, answer the following questions:

( a) What current assets are included on the balance sheet?

( b) If the company lists accounts receivable and an allowance account, analyze these accounts.

( c) What method does the company use to value inventory?

( d) What depreciation method does the company use?

( e) What assets other than current assets and property, plant, and equipment are included on the balance sheet?

Answer 1

A

Following current assts include in the balance sheet

a cash balance

b bank balance

c recievable

d short term Investments

e marketable security

f closing stock

g prepaid expense

h bill recievable etc.

B

The allowance account is a contra assts account which is associated with the account recievable and reflect the true value od account recievable. the allowce for doubtful account represent the value of account recievable that a company does not expect to receive payment.

Analyze of allowance account

under the allowance method a write off the amount of allowance it does not change the net realizable value of account recievable. it simply reduce account recievable and allowance for bad debts by the equal equal amount.

C

Method use for value of inventory

a

Special identification method : under this method when an inventory item sold.,the inventory account should be reduce annd the cost of goods sild should be increase for the amount paid for each inventory.

b

FIFO :FIFO is the method of valuation for the cost of goods sild that use the cost of old items in inventory sold first. according to FIFO at the end of a yea an inventory would consists of goods most recently placed in the inventory

c

LIFO: According to this method last items placed in the inventory sold frist.. therefore when the LIFO method is apply the inventory at the end of a year consist of the goods placed in the inventory at the beginning of the year rether then at end. when the infatuation rate is increase the LIFO method show the lower profit so it reduce the tax liabilites.

d

Average cost method: average cost method take the average of all items available for sale during the accounting period the average cist method use the average cost to determined the vale of the cost of goods sold and ending inventory  

D

Depreciation method:different methods apply for the calculate of Depreciation but mostly two methods uae these are flowing

a straight line method

b written down value method

a straight method : Depreciation expense under straight line method is calculated by dividing total amont of assts by useful life of assts and this amount reduce from the books value of the Assets

b written down value method : written down value is the value of an asset after accounting for Depreciation or amoritization and it is also called book value or net book value. it is calculated by sustracting Accumulated Depreciation or amoritization from the Asset 's original value and it reflects the asset' s present worth from an accounting perspective.

E following others assts include than current Assets and property, plant.,and equipment

a long terms Investments

b goodwill

c patents

d copyright

e treadmarks

f vehicle