Question: Amazon.com, Inc.’s financial statements are
Amazon.com, Inc.’s financial statements are presented in Appendix D. Financial statements of Wal-Mart Stores, Inc. are presented in Appendix E. Instructions (a) Based on the information contained in the financial statements, determine the normal balance of the listed accounts for each company. 
(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.
Transcribed Image Text:
Amazon Wal-Mart 1. Interest Expense 2. Cash and Cash Equivalents 3. Accounts Payable 1. Product Revenues 2. Inventories 3. Cost of Sales
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> Purpose: This activity provides information about career opportunities for CPAs. Address: www.startheregoplaces.com/why-accounting,orgo to www.wiley.com/college/kimmel Instructions Go the address shown above and then answer the following questions. (a)
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> What criteria must be met before a contingency must be recorded as a liability? How should the contingency be disclosed if the criteria are not met?
> Under what circumstances will the return on assets and the return on common stockholders’ equity be equal?
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