Financial Statements Research for a Publicly-Traded Company, assignment help

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Business Finance

Description

Access the latest annual report, or Form 10-K, of a publicly-traded company of your choice using the company’s website or www.sec.gov. You can usually access from a company’s website by clicking on investor relations, then annual reports, and search for latest form 10K. From the SEC website (www.sec.gov), search for the selected company’s name and then search for its latest form 10-K. Using form 10-K of your selected company, answer the following questions in an essay format.

  • Identify three accounts on your selected company’s and balance sheet that provide evidence that the company utilizes accrual accounting. Ensure you provide explanations as well as the income statement account that would be affected by the adjustment process.
  • Identify and explain three income statement accounts that may result in accrual and deferrals adjusting entries.
  • Explain depreciation expense, amortization expense, accumulated depreciation, and accumulated amortization? In the financial statements and notes of your selected company, identify the four accounts. How much was each of these four accounts for the most recent year and on which financial statements were each reported?
  • What are income taxes and income tax expense (or provision for income taxes)? In the financial statements and notes of your selected company, identify cash paid for income taxes as well as income tax expense (or provision for income taxes). How much was each of these accounts for the most recent year and on which financial statements was each reported?

Your response should include two to three pages of written text in addition to any calculations and solutions you offer to support your thinking. Ensure you include the form 10-K page numbers in your citations for each response. Include retrieval link for the 10-K as one of your sources so your instructor can verify the information. Document formatting and any citations should conform to CSU-Global Guide to Writing and APA Requirements.

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Explanation & Answer

Attached.

Running Head: JP MORGAN PUBLIC COMPANY

JPMorgan Public Company
Name
Course
Tutor
Date

1

JP MORGAN PUBLIC COMPANY

2

Income statement for JPMorgan
Gains/(losses) recorded in income and other comprehensive income/(loss)
Year ended
December

Total
Derivatives –

Hedge

Total

effective portion

ineffectiveness

income

Derivatives –

in OCI

2015

reclassified from

recorded directly in

statement

effective portion

for

(in millions)

AOCI to income

income (c)

impact

31,

change

recorded in OCI period

Contract type
Interest rate (a)

$

(99)

$



$

(99)

$

(44)

$ 55

(53)

28

(97)

$ 83

Foreign
exchange (b)
Total



(81)
$

(180)

$



(81)
$

(180)

$

JP MORGAN PUBLIC COMPANY

3

CONSOLIDATED BALANCE SHEETS ANALYSIS
Selected Consolidated balance sheets data
December 31, (in millions)

2015

2014

Change

Assets
Cash and due from banks
Deposits with banks

$

20,490 $

27,831

(26)%

340,015

484,477

(30)

212,575

215,803

(1)

98,721

110,435

(11)

284,162

320,013

(11)

59,677

78,975

(24)

Securities

290,827

348,004

(16)

Loans

837,299

757,336

11

Allowance for loan losses

(13,555)

(14,185)

(4)

823,744

743,151

11

46,605

70,079

(33)

Premises and equipment

14,362

15,133

(5)

Goodwill

47,325

47,647

(1)

Mortgage servicing rights

6,608

7,436

(11)

Other intangible assets

1,015

1,192

(15)

Federal funds sold and securities purchased
under resale agreements
Securities borrowed
Trading assets:
Debt and equity instruments
Derivative receivables

Loans, net of allowance for loan losses
Accrued interest and accounts receivable

JP MORGAN PUBLIC COMPANY

4

Other assets
Total assets

105,572

102,098

3

$

2,351,698 $

2,572,274

(9)%

$

1,279,715 $

1,363,427

(6)

1...


Anonymous
Excellent resource! Really helped me get the gist of things.

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