The financial statements of PepsiCo, Inc., are presented in Appendix A at the end of this textbook…. 1 answer below »
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The financial statements of PepsiCo, Inc., are presented in Appendix A at the end of this textbook.
Instructions
Answer the following questions using the Consolidated Balance Sheet and the Notes to Consolidated Financial Statements section.
(a) What were PepsiCo’s total current assets at December 30, 2006, and December 31, 2005?
(b) Are assets that PepsiCo included under current assets listed in proper order? Explain.
(c) How are PepsiCo’s assets classified?
(d) What are “cash equivalents”?
(e) What were PepsiCo’s total current liabilities at December 30, 2006, and December 31, 2005? Prepare work sheet, financial statements, and adjusting and closing entries.
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