Chapter 9, Problem 9.1CP

Annual Report Cases

Finding Financial Information

Refer to the financial statements of American Eagle given in Appendix B at the end of this book.

Required:

1. 1. What is the amount of accrued compensation and payroll taxes at the end of the most recent reporting year?
2. 2. In Chapter 9 we have used the term “deferred revenue.” What term does American Eagle use to reflect cash that it has received for goods or services that it will provide in the future?
3. 3. What is the average number of days that American Eagle accounts payable are outstanding in the most recent reporting year?
4. 4. What is the amount of long-term liabilities at the end of the most recent reporting year?