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Category > Accounting Posted 31 Jul 2017 My Price 11.00

General Mills, Inc.

a. General Mills, Inc., the large manufacturer of packaged foods, reported the following in its annual report for the year ending May 25, 2008 (in millions):
Short term borrowing …………………….$ 442.0
Long-tern debt ……………………………4,348.7
Stockholders equity ………………………6,215.8
The short-term borrowing and long-term debt are carried on the balance sheet at approximately their market value. The firm’s 337.5 million shares traded at $62 per share when the annual report was released. From these numbers, calculate General Mills’s enterprise market value (the market value of the firm).
b. Hewlett-Packard, the computer equipment manufacturer and systems consultant, had 2,473 million shares outstanding in May 2008, trading at $47 per share. Its most recent quarterly report listed the following (in millions):
Investments in interest-bearing debt
Securities and deposits …………………………….$11,513
Short-term borrowings ……………………………. 711
Long-term debt ……………………………………. 7,688
Stockholders equity ……………………………….. 38,153
Calculate the enterprise market value of Hewlett-Packard. The question requires you to consider the treatment of the interest-bearing debt investments. Are they part of the enterprise?

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Maurice Tutor
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Status NEW Posted 31 Jul 2017 08:07 PM My Price 11.00

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