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Depicted below is footnote #5 for Boeing, Co. for FYE 2021 and 2020, which includes
component amounts making up the net amount of accounts receivable on the balance sheet.
a. Of the components, which typically have a debit balance?
b. Of the components, which typically have a credit balance?
c. Describe how each of the five management assertions(i) existence, (ii) completeness, (iii)
valuation, (iv) rights and obligations, and (v) presentation and disclosurerelate to the components
making up the net balance sheet amount for accounts receivable for Boeing.
Note 5Accounts Receivable, net Accounts receivable at December 31 consisted of the following:
Note 1: Includes foreign military sales through the U.S. government
Note 2: Excludes U.S. government contracts
20212020U.S. Government Contracts*(Note 1)$1,180$811Commercial Airplanes27917Global
Services*(Note 2)1,4561,437Defense, Space & Security*(Note 2)111120Other514Less
Valuation Allowance(390)(444)Total$2,641$1,955

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Depicted below is footnote #5 for Boeing, Co. for FYE 2021 and 2020,.pdf

  • 1. Depicted below is footnote #5 for Boeing, Co. for FYE 2021 and 2020, which includes component amounts making up the net amount of accounts receivable on the balance sheet. a. Of the components, which typically have a debit balance? b. Of the components, which typically have a credit balance? c. Describe how each of the five management assertions(i) existence, (ii) completeness, (iii) valuation, (iv) rights and obligations, and (v) presentation and disclosurerelate to the components making up the net balance sheet amount for accounts receivable for Boeing. Note 5Accounts Receivable, net Accounts receivable at December 31 consisted of the following: Note 1: Includes foreign military sales through the U.S. government Note 2: Excludes U.S. government contracts 20212020U.S. Government Contracts*(Note 1)$1,180$811Commercial Airplanes27917Global Services*(Note 2)1,4561,437Defense, Space & Security*(Note 2)111120Other514Less Valuation Allowance(390)(444)Total$2,641$1,955