OPTION #1: FINANCIAL STATEMENTS RESEARCH FOR A PUBLICLY-TRADED COMPANY
Access the latest annual report, or Form 10-K, of a publicly-traded company of your choice using the company’s website or www.sec.gov. You can usually access from a company’s website by clicking on investor relations, then annual reports, and search for latest form 10K. From the SEC website (www.sec.gov) (Links to an external site.), search for the selected company’s name and then search for its latest form 10-K. Using form 10-K of your selected company, answer the following questions in an essay format.
- Identify three accounts on your selected company’s and balance sheet that provide evidence that the company utilizes accrual accounting. Ensure you provide explanations as well as the income statement account that would be affected by the adjustment process.
- Identify and explain three income statement accounts that may result in accrual and deferrals adjusting entries.
- Explain depreciation expense, amortization expense, accumulated depreciation, and accumulated amortization? In the financial statements and notes of your selected company, identify the four accounts. How much was each of these four accounts for the most recent year and on which financial statements were each reported?
- What are income taxes and income tax expense (or provision for income taxes)? In the financial statements and notes of your selected company, identify cash paid for income taxes as well as income tax expense (or provision for income taxes). How much was each of these accounts for the most recent year and on which financial statements was each reported?
Your response should include two pages of written text in addition to any calculations and solutions you offer to support your thinking. Ensure you include the form 10-K page numbers in your citations for each response. Include retrieval link for the 10-K as one of your sources so your instructor can verify the information. Document formatting and any citations should confirm to APA format
HECLA MINING COMPANY
Sales account and bank
The company has a sales account that is used to record all the sales made by the company this account is credited if the sales are made by the company in case there are instances where the sales are returned the account is debited. Bank account records all the cash coming into the business like the case of all the payments to the sales by the customers making purchases……………….
APA 439 words