Posted: July 26th, 2016
Consolidated Balance Sheets (partial), Consolidated Statements of Operations (partial), and Inventory
COMP 8-1. Complete the requirement for each of the following independent cases:
Case A. Dr. Pepper Snapple Group, Inc., is a leading integrated brand owner, bottler, and distributor of nonalcoholic beverages in the United States, Canada, and Mexico, Key brands include Dr. Pepper, Snapple, 7-UP, Mott’s juices, A&W root beer, Canada Dry ginger ale, Schweppes ginger ale, and Hawaiian Punch, among others.
The following represents selected data from recent financial statements of Dr. Pepper Snapple Group (dollars in millions):
DR PEPPER SNAPPLE GROUP, INC.
Consolidated Balance Sheets (partial)
(in millions) December 31, 2008 December 31, 2007
Assets
Current Assets:
Cash and cash equivalents $214 $ 67
Accounts receivable (net of allowances
of $13 and $20, respectively) 532 538
Consolidated Statements of Operations (partial)
For the Year Ended
December 31
_________________________
(in millions) 2008 2007 2006
Net Sales $5,710 $5,695 $4,700
…
Net (loss) income $ (312) $ 497 $ 510
The company also reported bad debt expense of $5 million in 2008, $11 million in 2007, and $7 million in 2006.
1. Record the company’s write-offs of uncollectible accounts for 2008.
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