Question

The balance sheet and disclosure of significant accounting policies taken from the 2017 annual report of Walmart

The balance sheet and disclosure of significant accounting policies taken from the 2017 annual report of Walmart Stores Inc. appear below. Use this information to answer the following questions: WAL-MART STORES, INC. Consolidated Balance Sheets ($ in millions except per share data) As of January 31, 2017 2016 $ 6,867 $ 8,705 5,835 5,624 43,046 44,469 1.941 1.441 57.68960, 239 179,492 (71,782) 107,71€ 176,958 (66, 787) 110, 171 11,637 (5,169) 6,468 17,837 11,096 (4,751) 6, 345 16,695 6,131 $199,581 9,921 $198,825 Assets Current assets: Cash and cash equivalents Receivables (net) Inventories Prepaid expenses and other Total current assets Property and equipment: Property and equipment Less accumulated depreciation Property and equipment (net) Property under capital leases: Property under capital lease and financing obligations Less accumulated amortization Property under capital leases and financing obligations (net) Goodwill Other assets and deferred charges Total assets Liabilities, Redeemable Noncontrolling Interest and Equity Current liabilities: Short-term borrowings Accounts payable Accrued liabilities Accrued income taxes Long-term debt due within one year Capital lease and financing obligations due within one year Total current liabilities Long-term debt Long-term capital lease and financing obligations Deferred income taxes and other Commitments and contingencies Equity: Common stock Capital in excess of par value Retained earnings Accumulated other comprehensive income (loss) Total Walmart shareholders' equity Nonredeemable noncontrolling interest Total equity Total liabilities, redeemable noncontrolling interest and equity $ 1,099 41,433 20,654 921 2,256 2,708 38,487 19,607 521 2,745 565 551 66,928 36,015 6,083 9,344 64,619 38,214 5,816 7,321 305 2,371 89,354 $ (14,232) 77,798 2,737 80,535 $198,825 317 1,805 90,821 (11,597) 80,546 3,065 83,611 199,581 Source: Wal-Mart NOTES TO CONSOLIDATED FINANCIAL STATEMENTS WAL-MART STORES, INC.

Answer 1

1.		Does Walmart Report Current assets Vs. long-term assets, and current liabilities Vs. long-term liabilities?	Yes
2.	a.	Total Assets	$198,825	million
	b.	Current Assets	$57,689	million
	c.	Current Liabilities	$66,928	million
	d.	Total Equity	$80,535	million
	e.	Retained Earnings	$89,354	million
	f.	Inventory	$43,046	million
3.		What is Walmart's largest current asset?	Inventories
		What is largest current liabilities?	Accounts Payable
4.		Current ratio	0.86
5.	a.	Does the company have any securities classified as cash equivalent?	Yes
	b.	Cost method used for US Inventory	LIFO
	c.	Walmart recognizes revenue at the time	the service is performed.