Review the following excerpt taken from the Walmart consolidated balance sheet as of Janua...

Review the following excerpt taken from the Walmart consolidated balance sheet as of January 31, 2010.

Analyze:

1. When the accountant for Walmart records a purchase of transportation equipment, what type of account is debited? If Walmart purchases transportation equipment on credit, what account might be credited?

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2. What type of source document might be reflected in the journal entry to record the purchase of equipment?

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3. If the accounting manager reviewed the Transportation Equipment account in the general ledger, what types of information might be listed there? What ending balance would be reflected at January 31, 2010?

Analyze Online: Locate the Web site for Walmart (www.walmartstores.com), which provides an online store for consumers as well as corporate information. Within the Web site, locate the consolidated balance sheet for the current year.

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4. What kinds of property, plant, and equipment are listed on the balance sheet?

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5. What is the balance reported for transportation equipment?