Toots ie roll indus tries is engaged in the manufac

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Unformatted text preview: ) Worksheet Learning Objective: 01­01 Recognize the information conveyed in each of the four basic financial statements and the way that it is used by different decision makers (investors, creditors, and managers). Toots ie Roll Indus tries is engaged in the manufac ture and s ale of c andy . Major produc ts inc lude Toots ie Roll, Toots ie Roll Pops , Toots ie Pop Drops , Toots ie Flav or Rolls , Charms , and Blow­Pop lollipops . The following items were lis ted on Toots ie Roll’s rec ent inc ome s tatement and balanc e s heet. Selec t eac h item from the balanc e s heet as an as s et (A), liability (L), or s hareholders ’ equity (SE) and eac h item from the inc ome s tatement as a rev enue (R) or ex pens e (E). (1) Notes pay able to bank s (2) General and adminis trativ e (3) Ac c ounts pay able (4) Div idends pay able (5) Retained earnings (6) Cas h and c as h equiv alents (7) Ac c ounts rec eiv able (8) Prov is ion for inc ome tax es (9) Cos t of goods s old (10) Mac hinery and equipment (11) Net s ales (12) Inv entories (13) Mark eting, s elling, and adv ertis ing (14) Buildings (15) Land (16) Inc ome tax es pay able (17) Dis tribution and warehous ing c os ts (18) Inv es tments (in other c ompanies ) L E L L SE A A E E A R A E A A L E A Explanation: Note that “Prov is ion for i...
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This homework help was uploaded on 02/23/2014 for the course BUSE 30000 taught by Professor N/a during the Winter '12 term at UChicago.

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