Eskimo Pie Corporation markets a broad range of frozen treats, including its famous Eskimo Pie ice cream bars. The following ite
ms were taken from a recent income statement and balance sheet. In each case, identify whether the item would appear on the balance sheet or income statement.
(a) Income tax expense
(b) Inventory
(c) Accounts payable
(d) Retained earnings
(e) Equipment earnings
(f) Sales revenue
(g) Cost of goods sold
(h) Common stock
(i) Accounts recieable
(j)Interest expense
The balance sheet identifies the productive resources (assets) that a firm has for the development of its activities, as well as how they are financed. Those funds may come from creditors (Obligation with creditors - Liabilities) and owners (Issuing equity shares - Shareholders' equity).
Instead, The Income Statement shows the incomes and loss than the firm operation has produced during the accountable period. It starts with Revenues and Cost of Goods to get the Gross Net Profit and follows with others incomes and loss to get the Net Income of the period.
Specific statements detailing what the organization intends to accomplish over a short period of time are called objectives. Objectives are stated by the company to keep goals on track and allow the organization to monitor their growth and completion. By keeping objectives open to everyone within the organization, it makes it easier for employees to stay on task and make sure by the end of the period, everything is done.
Lagging Adopters is the answer because, this group is slow to adapt to new ideas or technology. They tend to adopt only when they are forced to or because everyone else has already.
The type of contract that Will and Kendrick have is an unenforceable contract. Since the law states all transactions over $500 must be in writing, this voids any agreement that they have made. So, if the car is not bought, there is nothing a court of law can do.
