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Accounting Case Study on General Mills
General Mills, Inc.
Financial Accounting Case Study Module 1: A. General Mills Consolidated Statements of Earnings: 1. The recorded sale amount of almost $8 billion is not the actual amount of cash collected. The amount of $8 billion includes cash and credit sales.
2. Sales increased each year from 2000 to 2002. The difference between the year 2000 and 2001 was a 5.35% increase (5,450-5,173/5,173 = .0535). The difference between the year 2001 and 2002 was a 45.85% increase (7,949-5,450/5,450 = .4585).
3. The largest expense for General Mills for the years 2000, 2001, and 2002 was the same; over 50% of the revenue each year went towards the cost of sales. Sales in 2002 were the largest, about 7% more than the two previous years.
2000: (2,698/5,173) = .522 = 52.2% 2001: (2,841/5,450 = .521 = 52.1% 2002: (4,767/7,949) = .599 = 59.9% 4. Net Income: 2000: $614 million 2001: $665 million 2002: $458 million When comparing the net......
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Title: Accounting
Approximate Word Count: 1405
Approximate Pages: 6 (250 words per double-spaced page)
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