Awar d 016outof 016points toots ie roll indus tries is

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Unformatted text preview: Inv entories (7) Interes t ex pens e (8) Ac c ounts pay able (9) Land Stoc k holders ’ equity As s et Rev enue As s et Ex pens e As s et Ex pens e Liability As s et 3. awar d: 0.16 out of 0.16 points 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 L E L L SE A A E E A R A E A A L E A (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...
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