Acc Excercises

 

 

E9-5: Income statement data for Grendel Images Company for the years ended
December 31, 2010 and 2009, are as follows:
E9-7: PepsiCo, Inc. the parent company of Frito-Lay snack foodsand Pepsi beverages, had the following current assets and currentliabilities at the end of two recent years:
                         
      Year 2 Year 1                
      (millions) (millions)                
Cash and cash equivalents      $1,651  $    1,716                
Short term investments, at cost      $1,171  $    3,166                
Accounts and notes receivable, net      $3,725  $    3,261                
Inventories      $1,926  $    1,693                
Prepaid expenses and other current assets      $657  $        618                
Short term obligations      $274  $    2,889                
Accounts payable and other current liabilities      $6,496  $    5,971                
Income taxes payable      $90  $        546