Inc.’s financial statements are presented. Financial statements for Wal-Mart Stores, Inc. are presented. Instructions for accessing and using the complete annual reports of Amazon and Wal-Mart, including the notes to the financial statements, are also provided in Appendices D and E, respectively.
Instructions
(a) Based on the information contained in the financial statements, determine the normal balance of the listed accounts for each company.
|
Amazon |
Wal-Mart |
|
|
Interest Expense |
Net Sales Revenues |
|
|
Cash and Cash Equivalents |
Inventories |
|
|
Accounts Payable |
Cost of Sales |
(b) Identify the other account ordinarily involved when:
(1) Accounts Receivable is increased.
(2) Interest Expense is increased.
(3) Salaries and Wages Payable is decreased.
(4) Service Revenue is increased.
Real-World Focus