Module 2 Homework-3 - Homework PDF

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2/21/22, 8:07 PM

Module 2 Homework

Started on State Question 4

Monday, 31 January 2022, 7:37 PM Finished

Correct

Mark 10.00 out of 10.00

Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Procter & Gamble. (a) Indicate whether each account appears on the balance sheet (B) or income statement (I). ($ millions)

Amount

Sales Accumulated depreciation Depreciation expense Retained earnings Net income Property, plant & equipment, net

Classification

$43,373



10,438



1,703



11,686



5,186



13,104



3,038



Selling, general & administrative expense

13,009



Total liabilities

27,520



Stockholders' equity

16,186



Accounts receivable

(b) Using the data, compute total assets and total expenses. Total Assets



=$

43,706 

Total Expenses = $

38,187 ...