International Financial Reporting Problem Marks and Spencer plc The financial statements of Marks 1 answer below »

 
   

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International Financial Reporting Problem

Marks and Spencer plc

The financial statements of Marks and Spencer plc (M&S) are available at the book’s com- panion website

Instructions

Refer to M&S’s financial statements and the accompanying notes to answer the following questions.

(a) What were M&S’s total assets at 31 March 2012? At 2 April 2011?

(b) How much cash (and cash equivalents) did M&S have on 31 Ma r ch 2012?

(c) What we r e M&S’s selling and marketing expenses in 2012? In 20 1 1?

(d) What we r e M&S’s r evenues in 2012? In 20 1 1?

(e) Using M&S’s financial statements and r elated notes, identify items that may r esult in adjusting

entries for p r epayments and acc r uals.

(f) What we r e the amounts of M&S’s dep r eciation and amortization expense in 20 1 1 and 2012?