The financial statements of P&G are presented in Appendix 5B or can be accessed at the book?s companion website, www.wiley.com/college/kieso.
Refer to P&G?s financial statements and the accompanying notes to answer the following questions.
(a) What criteria does P&G use to classify ?Cash and cash equivalents? as reported in its balance sheet?
(b) As of June 30, 2009, what balances did P&G have in cash and cash equivalents? What were the major uses of cash during the year?
(c) P&G reports no allowance for doubtful accounts, suggesting that bad debt expense is not material for this company. Is it reasonable that a company like P&G would not have material bad debt expense? Explain.
This question was answered on: Jul 11, 2017
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