The financial statements of Marks and Spencer plc (M&S) are available at the book’s companion website or can be accessed at http://annualreport.marksandspencer.com/_assets/downloads/Marks-andSpencer-Annual-report-and-financial-statements-2012.pdf.
Refer to M&S’s financial statements and the accompanying notes to answer the following questions.
(a) What criteria does M&S use to classify “Cash and cash equivalents” as reported in its statement of financial position?
(b) As of 31 March 2012, what balances did M&S have in cash and cash equivalents? What were the major uses of cash during the year?
(c) What amounts related to trade receivables does M&S report? Does M&S have any past due but not impaired receivables?