The Buckle Inc AP3-3 Financial information for Buckle is presented in Appendix B

Question

The Buckle Inc AP3-3 Financial information for Buckle is presented in Appendix B at the end of the book . Also the pdf file it is being attached. Required 1) For the most recent year what amount does Buckle report for current assets? What assets are listed as current assets? What is the ratio of current asset to total assets? 2) For the most recent year , what amount does Buckle report for current liabilities? What is the ration of current liabilities to total liabilities? 3)List any current assets or current liabilities that likely relate to adjusting entries? 2014AnnualReport Buckle.pdf

It doesn't allow me to attache the PDF but the link of Annual Report is below

http://www.annualreports.com/HostedData/AnnualReportArchive/b/NYSE_BKE_2014.pdf

Explanation / Answer

1) For the year 2015- the current assets are valued at $ 324,589 thousands.

Cash & cash equivalents , short term investments,Receivables,Inventory,Prepaid expenses & other assets are listed as current assets.

Ratio of Current assets to total assets =$ 324589/ $ 542993 = 0.597

2) For the year ending 2015, the current liabilities are valued at $ 122271 thousands

Ratio of current liabilities to total liabilities= $122271/ $187715 = 0.651

3) -Property & equipment having depriciation entry as adjusting entry

-Deferred rent liability enty as adjusting entry

-Prepaid expenses having adjusting entry

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