Posted: July 26th, 2016

1. Record the company’s write-offs of uncollectible accounts for 2008.

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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