tailieunhanh - Ebook Financial accounting (7E): Part 2 - Walter T. Harrison Jr.

(BQ) Part 2 book "Financial accounting" has contents: Inventory & cost of goods sold, plant assets & intangibles, liabilities, the income statement & the statement of stockholders’ equity, the statement of cash flows, financial statement analysis,.and other contents. | 6 Inventory & Cost of Goods Sold SPOTLIGHT ISBN: 0-536-55962-7 PIER 1 IMPORTS You’ve just graduated from college, taken a job, and you’re moving into an apartment. The place is unfurnished, so you’ll need a sofa, a table, and a few chairs. Where will you find these things? Pier 1 Imports may get some of your business. Pier 1 is known for featuring stylish home furnishings at popular prices–just about right for a new graduate. The company operates 1,100 stores in the ., plus 43 Pier 1 Kids stores that sell children’s furniture and accessories. Pier 1’s balance sheet is summarized here. You can see that the merchandise inventory (labeled simply as Inventories) is Pier 1’s largest asset. That’s not surprising since Pier 1, like other retailers, attracts customers with goods that they can purchase and take home immediately. Financial Accounting, Seventh Edition, by Oct, 2009 Specially prepared for D03170808 on 21Walter T. Harrison, Jr. and Charles T. Horngren. Published by Prentice Hall. Copyright © 2008 by Pearson Education, Inc. 310 I Chapter 6 Inventory & Cost of Goods Sold Pier 1 Imports, Inc. Balance Sheets (Adapted) (In millions) 2006 2005 Cash and cash equivalents Receivables, net of allowance for doubtful $ 246 $ 186 account of $1 and $1, respectively. Inventories . 64 369 47 366 Prepaid expenses and other current assets Total current assets 96 775 80 679 Properties, net Other noncurrent assets . 299 96 320 77 $1,170 $1,076 $ 289 184 107 590 $1,170 $ 292 19 101 664 $1,076 Assets Current assets: Liabilities and Shareholders’ Equity Current liabilities .