21.07.2022 - 00:09

According to its annual report, “P&G’s more than 250 brands include Pampers, Tide, Ariel, Always, Whisper, Pantene, Bounty, Pringles, Folgers, Charmin, Downy, Lenor, Iams, Olay, Crest, Vicks and Acton

Question:

According to its annual report, ‘P&G’s more than 250 brands include Pampers, Tide, Ariel, Always, Whisper, Pantene, Bounty, Pringles, Folgers, Charmin, Downy, Lenor, Iams, Olay, Crest, Vicks and Actonel.’ The following are items taken from its recent balance sheet and income statement. Note that different companies use slightly different titles for the same item.

Classify each item in the following list as an asset (A), liability (L), or stockholders’ equity (SE) item that would appear on the balance sheet, or a revenue (R) or expense (E) that would appear on the income statement.

Financial Statement Items Categories
Accounts receivable
Cash and cash equivalents
Net sales
Notes payable
Taxes payable
Retained earnings
Cost of products sold
Marketing, administrative, and other operating expenses
Income taxes
Accounts payable
Land
Property, plant and equipment
Long-term debt
Inventories
Interest expense
Answers (0)
  • Lawanda
    April 14, 2023 в 17:48
    Accounts receivable - Asset (A) Cash and cash equivalents - Asset (A) Net sales - Revenue (R) Notes payable - Liability (L) Taxes payable - Liability (L) Retained earnings - Stockholders' equity (SE) Cost of products sold - Expense (E) Marketing, administrative, and other operating expenses - Expense (E) Income taxes - Expense (E) Accounts payable - Liability (L) Land - Asset (A) Property, plant and equipment - Asset (A) Long-term debt - Liability (L) Inventories - Asset (A) Interest expense - Expense (E) Accounts receivable, cash and cash equivalents, land, property, plant and equipment, and inventories are all examples of assets that would appear on the balance sheet. Notes payable, taxes payable, accounts payable, and long-term debt are all examples of liabilities that would appear on the balance sheet. Retained earnings is an example of stockholders' equity that would appear on the balance sheet. Net sales is an example of revenue that would appear on the income statement, while cost of products sold, marketing, administrative, and other operating expenses, income taxes, and interest expense are all examples of expenses that would appear on the income statement.
Do you know the answer?

Leave a comment

Not sure about the answer?
Find the right answer to the question According to its annual report, “P&G’s more than 250 brands include Pampers, Tide, Ariel, Always, Whisper, Pantene, Bounty, Pringles, Folgers, Charmin, Downy, Lenor, Iams, Olay, Crest, Vicks and Acton by subject Business, and if there is no answer or no one has given the right answer, then use the search and try to find the answer among similar questions.
Search for other answers
New questions in the category: Business
Authorization
*
*

Password generation