Chapter 4, Problem 4.1BYP

(a)

To determine

Financial Statements:

A financial statement is a complete record of the financial transactions of a company at a particular point of time. These provide important financial information like assets, liabilities, revenues and expenses of the company to its internal and external users. There are four basic financial statements; they are the income statement, retained earnings statement, balance sheet, and statement of cash flows.

The total current assets of Company A at September 24, 2011, and September 25, 2010.

(b)

To determine

Whether the assets included by Company A are listed in proper order.

(c)

To determine

The classification of assets of Company A.

(d)

To determine

The “Cash and cash equivalents” of Company A at September 24, 2011.

(e)

To determine

The total current liabilities of Company A at September 24, 2011, and September 25, 2010.