{"id":3509,"date":"2018-09-12T17:59:19","date_gmt":"2018-09-12T07:59:19","guid":{"rendered":"https:\/\/casestudyhelp.com\/sample-questions\/?p=3509"},"modified":"2019-09-19T21:35:15","modified_gmt":"2019-09-19T11:35:15","slug":"accy-500-accounting-measurement-reporting-and-control-csh-1531-2018","status":"publish","type":"post","link":"https:\/\/casestudyhelp.com\/sample-questions\/accy-500-accounting-measurement-reporting-and-control-csh-1531-2018\/","title":{"rendered":"ACCY 500: Accounting Measurement, Reporting, and Control"},"content":{"rendered":"

ACCY 500: Accounting Measurement, Reporting, and Control<\/strong><\/p>\n

Group Assignment 2<\/p>\n

Group Name:<\/p>\n

Student names:<\/p>\n

Part I: Accounts Receivable and Uncollectible Amounts<\/strong><\/h2>\n

Using the balance sheet of Google provided in the next page, answer the following questions:<\/p>\n

    \n
  1. As of December 31st, 2005, how much does Google expect to collect from its customers in the future because of sales that were made prior to January 1st, 2006?<\/strong><\/li>\n
  2. Assume that Google had written off $2,500 (thousand) of its accounts receivable as permanently uncollectible during the year ended December 31st, 2005.\u00a0 How much did bad debt expense Google record during 2005?\u00a0<\/strong><\/li>\n<\/ol>\n

     <\/p>\n

    CONSOLIDATED BALANCE SHEETS<\/strong><\/p>\n

    (In thousands, except par value)<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
    <\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    <\/td>\n<\/td>\nDecember\u00a031,<\/strong><\/td>\n<\/td>\n<\/tr>\n
    <\/td>\n<\/td>\n2004<\/strong><\/td>\n<\/td>\n<\/td>\n2005<\/strong><\/td>\n<\/td>\n<\/tr>\n
    Assets<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    Current assets:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    Cash and cash equivalents<\/td>\n<\/td>\n$<\/td>\n426,873<\/td>\n<\/td>\n<\/td>\n$<\/td>\n3,877,174<\/td>\n<\/td>\n<\/tr>\n
    Marketable securities<\/td>\n<\/td>\n<\/td>\n1,705,424<\/td>\n<\/td>\n<\/td>\n<\/td>\n4,157,073<\/td>\n<\/td>\n<\/tr>\n
    Accounts receivable, net of allowances of $3,962 and $14,852<\/td>\n<\/td>\n<\/td>\n311,836<\/td>\n<\/td>\n<\/td>\n<\/td>\n687,976<\/td>\n<\/td>\n<\/tr>\n
    Income taxes receivable<\/td>\n<\/td>\n<\/td>\n70,509<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u2014<\/td>\n<\/td>\n<\/tr>\n
    Deferred income taxes, net<\/td>\n<\/td>\n<\/td>\n19,463<\/td>\n<\/td>\n<\/td>\n<\/td>\n49,341<\/td>\n<\/td>\n<\/tr>\n
    Prepaid revenue share, expenses and other assets<\/td>\n<\/td>\n<\/td>\n159,360<\/td>\n<\/td>\n<\/td>\n<\/td>\n229,507<\/td>\n<\/td>\n<\/tr>\n
    Total current assets<\/td>\n<\/td>\n<\/td>\n2,693,465<\/td>\n<\/td>\n<\/td>\n<\/td>\n9,001,071<\/td>\n<\/td>\n<\/tr>\n
    Property and equipment, net<\/td>\n<\/td>\n<\/td>\n378,916<\/td>\n<\/td>\n<\/td>\n<\/td>\n961,749<\/td>\n<\/td>\n<\/tr>\n
    Goodwill<\/td>\n<\/td>\n<\/td>\n122,818<\/td>\n<\/td>\n<\/td>\n<\/td>\n194,900<\/td>\n<\/td>\n<\/tr>\n
    Intangible assets, net<\/td>\n<\/td>\n<\/td>\n71,069<\/td>\n<\/td>\n<\/td>\n<\/td>\n82,783<\/td>\n<\/td>\n<\/tr>\n
    Deferred income taxes, net, non-current<\/td>\n<\/td>\n<\/td>\n11,590<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u2014<\/td>\n<\/td>\n<\/tr>\n
    Prepaid revenue share, expenses and other assets, non-current<\/td>\n<\/td>\n<\/td>\n35,493<\/span><\/td>\n<\/td>\n<\/td>\n<\/td>\n31,310<\/td>\n<\/td>\n<\/tr>\n
    Total assets<\/td>\n<\/td>\n$<\/td>\n3,313,351<\/td>\n<\/td>\n<\/td>\n$<\/td>\n10,271,813<\/td>\n<\/td>\n<\/tr>\n
    <\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    Liabilities and Stockholders\u2019 Equity<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    Current liabilities:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    Accounts payable<\/td>\n<\/td>\n$<\/td>\n32,672<\/td>\n<\/td>\n<\/td>\n$<\/td>\n115,575<\/td>\n<\/td>\n<\/tr>\n
    Accrued compensation and benefits<\/td>\n<\/td>\n<\/td>\n82,631<\/td>\n<\/td>\n<\/td>\n<\/td>\n198,788<\/td>\n<\/td>\n<\/tr>\n
    Accrued expenses and other current liabilities<\/td>\n<\/td>\n<\/td>\n64,111<\/td>\n<\/td>\n<\/td>\n<\/td>\n114,377<\/td>\n<\/td>\n<\/tr>\n
    Accrued revenue share<\/td>\n<\/td>\n<\/td>\n122,544<\/td>\n<\/td>\n<\/td>\n<\/td>\n215,771<\/td>\n<\/td>\n<\/tr>\n
    Deferred revenue<\/td>\n<\/td>\n<\/td>\n36,508<\/td>\n<\/td>\n<\/td>\n<\/td>\n73,099<\/td>\n<\/td>\n<\/tr>\n
    Income taxes payable<\/td>\n<\/td>\n<\/td>\n\u2014<\/td>\n<\/td>\n<\/td>\n<\/td>\n27,774<\/td>\n<\/td>\n<\/tr>\n
    Current portion of equipment leases<\/td>\n<\/td>\n<\/td>\n1,902<\/td>\n<\/td>\n<\/td>\n<\/td>\n\u2014<\/td>\n<\/td>\n<\/tr>\n
    Total current liabilities<\/td>\n<\/td>\n<\/td>\n340,368<\/td>\n<\/td>\n<\/td>\n<\/td>\n745,384<\/td>\n<\/td>\n<\/tr>\n
    Deferred revenue, long-term<\/td>\n<\/td>\n<\/td>\n7,443<\/td>\n<\/td>\n<\/td>\n<\/td>\n10,468<\/td>\n<\/td>\n<\/tr>\n
    Liability for stock options exercised early, long-term<\/td>\n<\/td>\n<\/td>\n5,982<\/td>\n<\/td>\n<\/td>\n<\/td>\n2,083<\/td>\n<\/td>\n<\/tr>\n
    Deferred income taxes, net<\/td>\n<\/td>\n<\/td>\n\u2014<\/td>\n<\/td>\n<\/td>\n<\/td>\n35,419<\/td>\n<\/td>\n<\/tr>\n
    Other long-term liabilities<\/td>\n<\/td>\n<\/td>\n30,502<\/td>\n<\/td>\n<\/td>\n<\/td>\n59,502<\/td>\n<\/td>\n<\/tr>\n
    <\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    Commitments and contingencies<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    <\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    Stockholders\u2019 equity:<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
    Class\u00a0A and Class B common stock, $0.001 par value: 9,000,000 shares authorized at December\u00a031, 2004 and December\u00a031, 2005, 266,917, and 293,027 shares issued and outstanding, excluding 7,605, and 3,303 shares subject to repurchase (see Note 10) at December\u00a031, 2004 and December\u00a031, 2005<\/td>\n<\/td>\n<\/td>\n267<\/td>\n<\/td>\n<\/td>\n<\/td>\n293<\/td>\n<\/td>\n<\/tr>\n
    Additional paid-in capital<\/td>\n<\/td>\n<\/td>\n2,582,352<\/td>\n<\/td>\n<\/td>\n<\/td>\n7,477,792<\/td>\n<\/td>\n<\/tr>\n
    Deferred stock-based compensation<\/td>\n<\/td>\n<\/td>\n(249,470<\/td>\n)<\/td>\n<\/td>\n<\/td>\n(119,015<\/td>\n)<\/td>\n<\/tr>\n
    Accumulated other comprehensive income<\/td>\n<\/td>\n<\/td>\n5,436<\/td>\n<\/td>\n<\/td>\n<\/td>\n4,019<\/td>\n<\/td>\n<\/tr>\n
    Retained earnings<\/td>\n<\/td>\n<\/td>\n590,471<\/td>\n<\/td>\n<\/td>\n<\/td>\n2,055,868<\/td>\n<\/td>\n<\/tr>\n
    Total stockholders\u2019 equity<\/td>\n<\/td>\n<\/td>\n2,929,056<\/td>\n<\/td>\n<\/td>\n<\/td>\n9,418,957<\/td>\n<\/td>\n<\/tr>\n
    Total liabilities and stockholders\u2019 equity<\/td>\n<\/td>\n$<\/td>\n3,313,351<\/td>\n<\/td>\n<\/td>\n$<\/td>\n10,271,813<\/td>\n<\/td>\n<\/tr>\n
    <\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

    See accompanying notes.<\/p>\n

    Part II: Accounts Receivables and Inventory<\/strong><\/h2>\n

    Please contemplate the Income-Statement and Note 17 (Supplemental information) for General Mills below and answer the following questions. For the purpose of this difficulty, assume that inventory values determined using the average cost method is identical to FIFO values. Also, suppose that revenue is presented net of bad debt expense.<\/p>\n

      \n
    1. Suppose that the Company charged $7 million as bad debt expense. Reckon the number of bad debts written off in 2010.<\/strong><\/li>\n<\/ol>\n
        \n
      1. Compute the amount of cash collected from customers during the year ended May 30th, 2010.<\/strong><\/li>\n<\/ol>\n
          \n
        1. What does cost flow assumption(s) for inventories General Mills use?<\/strong><\/li>\n<\/ol>\n
            \n
          1. Suppose that General Mills had in all periods used FIFO as their cost flow assumption for all their inventories. What would have been General Mills\u2019 book value of inventories at the end of the fiscal year 2010 under this alternative cost flow assumption?<\/strong><\/li>\n
          2. What is the amount of inventory purchases in the fiscal year 2010?<\/strong><\/li>\n<\/ol>\n

             <\/p>\n

            Consolidated Statements of Earnings<\/strong><\/p>\n

            GENERAL MILLS, INC. AND SUBSIDIARIES<\/strong><\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
            (In Millions, Except per Share Data)<\/td>\nFiscal Year<\/td>\n<\/tr>\n
            2010<\/td>\n2009<\/td>\n2008<\/td>\n<\/tr>\n
            Net sales<\/td>\n$14,796.5<\/td>\n$14,691.3<\/td>\n$13,652.1<\/td>\n<\/tr>\n
            Cost of sales<\/td>\n8,922.9<\/td>\n9,457.8<\/td>\n8,778.3<\/td>\n<\/tr>\n
            Selling, general, and administrative expenses<\/td>\n3,236.1<\/td>\n2,951.8<\/td>\n2,623.6<\/td>\n<\/tr>\n
            Divestitures (gain), net<\/td>\n\u2014<\/td>\n(84.9)<\/td>\n\u2014<\/td>\n<\/tr>\n
            Restructuring, impairment, and other exit costs<\/td>\n31.4<\/td>\n41.6<\/td>\n21.0<\/td>\n<\/tr>\n
            Operating profit<\/td>\n2,606.1<\/td>\n2,325.0<\/td>\n2,229.2<\/td>\n<\/tr>\n
            Interest, net<\/td>\n401.6<\/td>\n382.8<\/td>\n399.7<\/td>\n<\/tr>\n
            Earnings before income taxes and after-tax earnings from joint ventures<\/td>\n2,204.5<\/td>\n1,942.2<\/td>\n1,829.5<\/td>\n<\/tr>\n
            Income taxes<\/td>\n771.2<\/td>\n720.4<\/td>\n622.2<\/td>\n<\/tr>\n
            After-tax earnings from joint ventures<\/td>\n101.7<\/td>\n91.9<\/td>\n110.8<\/td>\n<\/tr>\n
            Net earnings, including earnings attributable to noncontrolling interests<\/td>\n1,535.0<\/td>\n1,313.7<\/td>\n1,318.1<\/td>\n<\/tr>\n
            Net earnings attributable to noncontrolling interests<\/td>\n4.5<\/td>\n9.3<\/td>\n23.4<\/td>\n<\/tr>\n
            Net earnings attributable to General Mills<\/td>\n$ 1,530.5<\/td>\n$ 1,304.4<\/td>\n$1,294.7<\/td>\n<\/tr>\n
            Earnings per share \u2013 basic<\/td>\n$\u00a0\u00a0 \u00a0\u00a0 2.32<\/td>\n$\u00a0\u00a0\u00a0\u00a0\u00a0 1.96<\/td>\n$\u00a0\u00a0\u00a0\u00a0\u00a0 1.93<\/td>\n<\/tr>\n
            Earnings per share \u2013 diluted<\/td>\n$\u00a0\u00a0\u00a0\u00a0\u00a0 2.24<\/td>\n$\u00a0\u00a0\u00a0\u00a0\u00a0 1.90<\/td>\n$\u00a0\u00a0\u00a0\u00a0\u00a0 1.85<\/td>\n<\/tr>\n
            Dividends per share<\/td>\n$\u00a0\u00a0\u00a0\u00a0\u00a0 0.96<\/td>\n$\u00a0\u00a0\u00a0\u00a0\u00a0 0.86<\/td>\n$\u00a0\u00a0\u00a0\u00a0\u00a0 0.78<\/td>\n<\/tr>\n
            See accompanying notes to consolidated financial statements.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

             <\/p>\n

            NOTE 17. SUPPLEMENTAL INFORMATION<\/strong><\/p>\n

            ThecomponentsofcertainConsolidatedBalanceSheetaccounts are asfollows:<\/strong><\/p>\n\n\n\n\n\n\n
            In Millions<\/td>\nMay 30,
            \n2010<\/td>\n            		May 31,
            \n2009<\/td>\n<\/tr>\n
            Receivables:<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
            \u00a0\u00a0\u00a0\u00a0 Fromcustomers<\/td>\n$1,057.4<\/td>\n$971.2<\/td>\n<\/tr>\n
            \u00a0\u00a0\u00a0\u00a0 Lessallowancefordoubtful<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

            accounts(15.8)(17.8)Total$1,041.6$953.4<\/p>\n

             <\/p>\n\n\n\n\n\n\n\n\n
            In Millions<\/td>\nMay 30,
            \n2010<\/td>\n            		May 31,
            \n2009<\/td>\n<\/tr>\n
            Inventories:<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
            \u00a0\u00a0\u00a0\u00a0 Raw materials and packaging<\/td>\n$ 247.5<\/td>\n$ 273.1<\/td>\n<\/tr>\n
            \u00a0\u00a0\u00a0\u00a0 Finished goods<\/td>\n1,131.4<\/td>\n1,096.1<\/td>\n<\/tr>\n
            \u00a0\u00a0\u00a0\u00a0 Grain<\/td>\n107.4<\/td>\n126.9<\/td>\n<\/tr>\n
            Excess of FIFO or weighted-<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

            average cost over LIFO cost(a)<\/sup>\u00a0\u00a0\u00a0(142.3)(149.3)Total$1,344.0$1,346.8<\/p>\n

            (a)Inventoriesof$958.3millionasofMay30,2010,and$908.3millionasofMay31,2009, were valued atLIFO.<\/p>\n

            Part III: Long-term Debt of Caterpillar<\/h2>\n

            Refer to the Table in Caterpillar\u2019s Annual Report for long-term liabilities. Recall that the Company\u2019s fiscal year end is 31 December 2008. Using the information provided, answer the following questions:<\/p>\n

            NOTE: Always use Semi-Annual Calculations<\/strong><\/p>\n

             <\/p>\n

              \n
            1. Refer to the 6.550% notes due 2011 (1st instrument on the table). Calculate the interest expense on this note for fiscal 2009 (year ended 31 December 2009).<\/strong><\/li>\n<\/ol>\n

              \u00a0<\/strong><\/p>\n

                \n
              1. Refer to the 6.550% notes due 2011 (1st instrument on the table). Calculate the coupon payment on this note for fiscal 2009 (year ended 31 December 2009).<\/strong><\/li>\n<\/ol>\n

                \u00a0<\/strong><\/p>\n

                  \n
                1. Refer to the same note as in part (a). Provide the entry that the Company will record at maturity.<\/strong><\/li>\n<\/ol>\n

                   <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
                  <\/td>\n<\/td>\n<\/td>\nDecember 31,<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
                  (Millions of dollars)<\/strong><\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2008\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/strong><\/td>\n<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2007\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/td>\n<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 2006\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/td>\n<\/tr>\n
                  Machinery and Engines:<\/td>\n\u00a0<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
                  \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Notes\u20146.550% due 2011<\/td>\n$\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 250<\/strong><\/td>\n$250<\/td>\n$250<\/td>\n<\/tr>\n
                  Notes\u20145.700% due 2016<\/td>\n517<\/strong><\/td>\n<\/td>\n510<\/td>\n<\/td>\n500<\/td>\n<\/tr>\n
                  Debentures\u20147.250% due 2009<\/td>\n\u2014<\/strong><\/td>\n<\/td>\n305<\/td>\n<\/td>\n307<\/td>\n<\/tr>\n
                  Debentures\u20149.375% due 2011<\/td>\n123<\/strong><\/td>\n<\/td>\n123<\/td>\n<\/td>\n123<\/td>\n<\/tr>\n
                  Debentures\u20147.000% due 2013<\/td>\n350<\/strong><\/td>\n<\/td>\n\u2014<\/td>\n<\/td>\n\u2014<\/td>\n<\/tr>\n
                  Debentures\u20147.900% due 2018<\/td>\n898<\/strong><\/td>\n<\/td>\n\u2014<\/td>\n<\/td>\n\u2014<\/td>\n<\/tr>\n
                  Debentures\u20149.375% due 2021<\/td>\n120<\/strong><\/td>\n<\/td>\n120<\/td>\n<\/td>\n120<\/td>\n<\/tr>\n
                  Debentures\u20148.000% due 2023<\/td>\n82<\/strong><\/td>\n<\/td>\n82<\/td>\n<\/td>\n82<\/td>\n<\/tr>\n
                  Debentures\u20146.625% due 2028<\/td>\n299<\/strong><\/td>\n<\/td>\n299<\/td>\n<\/td>\n299<\/td>\n<\/tr>\n
                  Debentures\u20147.300% due 2031<\/td>\n349<\/strong><\/td>\n<\/td>\n348<\/td>\n<\/td>\n348<\/td>\n<\/tr>\n
                  Debentures\u20145.300% due 2035<\/td>\n203<\/strong><\/td>\n<\/td>\n202<\/td>\n<\/td>\n201<\/td>\n<\/tr>\n
                  Debentures\u20146.050% due 2036<\/td>\n748<\/strong><\/td>\n<\/td>\n748<\/td>\n<\/td>\n747<\/td>\n<\/tr>\n
                  Debentures\u20148.250% due 2038<\/td>\n248<\/strong><\/td>\n<\/td>\n\u2014<\/td>\n<\/td>\n\u2014<\/td>\n<\/tr>\n
                  Debentures\u20146.950% due 2042<\/td>\n249<\/strong><\/td>\n<\/td>\n249<\/td>\n<\/td>\n249<\/td>\n<\/tr>\n
                  Debentures\u20147.375% due 2097<\/td>\n297<\/strong><\/td>\n<\/td>\n297<\/td>\n<\/td>\n297<\/td>\n<\/tr>\n
                  Capital lease obligations<\/td>\n293<\/strong><\/td>\n<\/td>\n68<\/td>\n<\/td>\n72<\/td>\n<\/tr>\n
                  Other<\/td>\n710<\/strong>1<\/td>\n<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 38\u00a0\u00a0\u00a0\u00a0 <\/span><\/td>\n<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 99\u00a0\u00a0\u00a0\u00a0 <\/span><\/td>\n<\/tr>\n
                  Total Machinery and Engines<\/td>\n5,736<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

                   <\/p>\n\n\n\n\n\n\n\n\n\n\n\n
                  Financial Products:<\/td>\n\u00a015,000<\/strong><\/td>\n<\/td>\n\u00a09<\/td>\n<\/td>\n\u00a04<\/td>\n<\/tr>\n
                  \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Commercial paper<\/td>\n<\/tr>\n
                  Medium-term notes<\/td>\n15,073<\/strong><\/td>\n<\/td>\n12,678<\/td>\n<\/td>\n12,857<\/td>\n<\/tr>\n
                  Deposit obligations<\/td>\n\u2014<\/td>\n<\/td>\n232<\/td>\n<\/td>\n232<\/td>\n<\/tr>\n
                  Other<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 525\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/strong><\/td>\n<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 377\u00a0\u00a0\u00a0\u00a0 <\/span><\/td>\n<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 489\u00a0\u00a0\u00a0\u00a0 <\/span><\/td>\n<\/tr>\n
                  Total Financial Products<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 17,098\u00a0\u00a0\u00a0\u00a0\u00a0 <\/span><\/strong><\/td>\n<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 14,190\u00a0\u00a0\u00a0 <\/span><\/td>\n<\/td>\n\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 13,986\u00a0\u00a0\u00a0\u00a0 <\/span><\/td>\n<\/tr>\n
                  Total long-term debt due after one year<\/td>\n$\u00a0\u00a0\u00a0\u00a0 22,834<\/strong><\/td>\n<\/td>\n$\u00a0\u00a0\u00a0\u00a0 17,829<\/td>\n<\/td>\n$\u00a0\u00a0\u00a0\u00a0 17,680<\/td>\n<\/tr>\n
                  <\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
                  1 Increase in 2008 due to the consolidation of Cat Japan. See Note 25 for additional details.<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

                   <\/p>\n

                  Part IV: Fixed Assets of BP<\/h2>\n

                  On the next page, you can find the note on Property, Plant and Equipment Assets of BP\u2019s 2006 Annual Report. Using the information provided in the note, please answer the questions<\/a> below. All numbers in the questions below and the footnote are in $ million.<\/p>\n

                    \n
                  1. How much did BP pay to purchase\/develop additional Oil and Gas Properties in 2006?<\/strong><\/li>\n<\/ol>\n
                      \n
                    1. Assume that BP received a total of $400 in cash from selling Oil and Gas Properties.<\/strong><\/li>\n<\/ol>\n