Assessment Instructions
For this assessment, complete the Problems 6-1, 6-2, and 6-3. You may use Word or Excel to complete the assessments throughout this course, but you will find Excel to be most helpful for creating spreadsheets. Tutorials for using Excel are provided in the Supplemental Resources in the left navigation menu. If you use Excel, submit the assessment in one Excel document, using separate tabs for each spreadsheet.
Problem 6-1: Locating Information on Published Financial Statements
Refer to the Lowe's 2011 10-K. You should have located these statements for previous assessment problems. Use these statements and your prior knowledge of accounting, supplemented by textbooks or other references of your choosing, including the NOTES to the financial statements found in the Lowe's 2011 10-K, to answer the following questions, which all refer to the fiscal year end 2012. Indicate the source of each answer, including the page number from the Lowe's 2011 10-K.
Does the company have any marketable securities at the end of the year?
How many dollars of marketable securities?
How are they classified? Short-term, long-term, or both?
How much cash did the company use to purchase marketable securities during the year ended in 2011, if any? Where did you look to find this information?