Assignment 3 : Financial Acct 2

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CP6-2

CP6-2 Finding Financial Information LO6-1, 6-3, 6-5
Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book.
Required:
1. How much cash and cash equivalents does the company report at the end of the current year?
(in thousands)
Where can this information be found?
2. What was the change in accounts receivable and how did it affect net cash provided by operating activities for the current year?
3. Which types of customers account for most of the company's accounts receivable?
Did bad debts expense increase or decrease between 2011 and 2012? (Dollars in thousands.)
Bad debt expense
From: in 2011
To: in 2012
How did you know?
4. Where does the company disclose its revenue recognition policy?
When does the company record revenues for the “sale” of gift cards?

CP6-2 Check Figures

CP6-2 Finding Financial Information LO6-1, 6-3, 6-5
Refer to the financial statements of Urban Outfitters given in Appendix C at the end of this book.
Required:
1. How much cash and cash equivalents does the company report at the end of the current year?
(in thousands)
Where can this information be found?
2. What was the change in accounts receivable and how did it affect net cash provided by operating activities for the current year?
3. Which types of customers account for most of the company's accounts receivable?
The accounts receivable are primarily due from wholesale customers and credit card customers.
Did bad debts expense increase or decrease between 2011 and 2012? (Dollars in thousands.)
Bad debt expense increased
From: $ 2,397 in 2011
To: $ 3,920 in 2012
How did you know?
4. Where does the company disclose its revenue recognition policy?
When does the company record revenues for the “sale” of gift cards?

Sheet2

List 1
increased
decreased