Posted: July 24th, 2016

Compute basic earnings per share for 2012 as if there were no treasury stock. Comment.

For the fiscal year ended Feb 2, 2013 (2012 Annual Report) for Kroger:

1a Which CPA firm audited the financial statements?
1b What type of opinion was issued?

2a What are “deposits in transit”?
2b Are they properly classified on the balance sheet? Explain briefly.

3a Compute the rate of change in weekly sales from 2010 to 2011, and 2011 to 2012. Comment briefly.
3b Why use weekly sales instead of annual sales in making this calculation?

4a What factor causes the difference between basic and fully diluted earnings per share for 2012?
4b Is this difference material?
4c Compute basic earnings per share for 2012 as if there were no treasury stock. Comment.

5 What was the amount of cash dividends paid in fiscal 2012?

6a Compute current ratio and quick ratio for both years presented.
6b Identify any observable change.
6c Identify the major contributing factor to this change.

7 How does the company recognize revenue from sales of Kroger-branded gift cards?

8 Why did Kroger take a charge of $18 for goodwill impairment in 2010?

9 Does Kroger consolidate any entities that it owns less than 100%? Explain.

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