Chapter 1
Review the 2018 Annual Report (Form 10-K) for Southwest
Airlines Co. (financial statements begin on page 89 of the PDF) and respond to
the questions / requirements below.
Based on a cursory review, what items / amounts
in the financial statements seem most noteworthy from an operating perspective,
investing perspective, and financing perspective?How would you feel about investing in or lending
to this company? Why?In reading financial statement note 1 (“Summary
of Significant Accounting Policies”; pages 94 – 101 of the PDF), identify an
example where the company has applied the concepts of going concern,
periodicity, and/or measurement.
In your post, indicate to which
question number above you are responding. After you post at least one reply,
the responses of your classmates will become available to you.
Chapter 2
Review the 2018 Annual Report
(Form 10-K) for Southwest Airlines Co. (financial statements begin on page 89
of the PDF) and respond to the questions / requirements below.
Verify that the accounting equation remained in
balance for this company as of the end of the most recent fiscal year. Where in
the Annual Report can this be verified?What are the most substantial (largest)
components of assets, liabilities, and owners’ equity for this company?What are the most significant (largest) revenues
and expenses for this company?What are the most significant (largest) sources
and uses of cash for this company in recent years?
In your post, indicate to which question
number above you are responding. After you post at least one reply, the
responses of your classmates will become available to you.
Chapter 3
Review the 2018 Annual Report
(Form 10-K) for Southwest Airlines Co. (financial statements begin on page 89
of the PDF) and respond to the questions / requirements below.
Identify and describe an example where this
company might have received cash in advance of earning revenue (revenue
deferral) or paid cash in advance of incurring an expense (expense deferral).Identify and describe an example where this
company might have earned revenue in advance of receiving cash (revenue
accrual) or incurred an expense in advance of paying cash (expense accrual).What adjustments at the end of the fiscal period
would have likely been necessary related to these deferral and accrual
balances.
In your post, indicate to which
question number above you are responding. After you post at least one reply,
the responses of your classmates will become available to you.
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