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/Marksand-Spencer-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 were M&S’s total assets at 31 March 2012? At 2 April 2011?
(b) How much cash (and cash equivalents) did M&S have on 31 March 2012?
(c) What were M&S’s selling and marketing expenses in 2012? in 2011?
(d) What were M&S’s revenues in 2012? in 2011?
(e) Using M&S’s financial statements and related notes, identify items that may result in adjusting entries for prepayments and accruals.
(f) What were the amounts of M&S’s depreciation and amortization expense in 2011 and 2012?