Classification of financial statement items

Reference no: EM131116924

Exercise 1-9 Classification of Financial Statement Items

Carnival Corporation & plc is one of the largest cruise companies in the world with such well- known brands as Carnival Cruise Lines, Holland America Line, and Princess Cruises. Classify each of the following items found in the company's financial statements included in the Form 10-K for the year ended November 30, 2011 according to (1) whether it belongs on the income statement (IS) or balance sheet (BS) and (2) whether it is a revenue (R), expense (E), asset (A), liability (L), or stockholders' equity (SE) item.

Item	Appears on the	Classified as
Example: Cash and cash equivalents	BS	A
1. Trade and other receivables, net
2. Common stock of Carnival Corporation
3. Short-term borrowings
4. Passenger tickets
5. Selling and administrative
6. Property and equipment, net
7. Accounts payable
8. Retained earnings
9. Income tax expense, net
10. Long-term debt

Reference no: EM131116924

Questions Cloud

Calculate the total direct materials variance : How much is the standard cost per direct labor hour for variable overhead? From the following particulars of Rose Mary Company, calculate the total direct materials variance.

Operating profits and losses for the seven industry segments : Based only on the operating profit (loss) test, which industry segments are reportable?

Simulation of an operating system : The project will consist of creating a simulation of an operating system scheduler handling multiple threads or processes. The student will create a program that launches 6 - 10 worker threads simulating a processor bound, I/O bound and an interme..

What is the function of this major body system : Describe why this body system is vital to a healthy life, as well as why you should take care of it. Answer the following questions in your brochure: What is the function of this major body system? What role does it play in overall health?

Classification of financial statement items : Carnival Corporation & plc is one of the largest cruise companies in the world with such well- known brands as Carnival Cruise Lines, Holland America Line, and Princess Cruises.

Logical and physical addresses and address space : 1) Compare and contrast logical and physical addresses and address space. 2) What is paging? What are its advantages? Disadvantages?

Question regarding the modern corporate setup : As you analyze any modern corporate setup, you will see that companies want to ensure that all users are aware of their own individual responsibility to help protect the enterprise. Social engineering (SE) is becoming a more prevalent threat at al..

Risk aversion and decision making john smith : Risk Aversion and Decision Making John Smith is the production manager of Elmo's Glue Com- pany. Because of limited capacity, the company can produce only one of two possible products. The two products are:

Quantify your risk by using monitory value : Identify at least 10 risks for a mobile application project. Qualify risks you have identified as high, medium, and low based on their probability and impact. Quantify your risk by using monitory value.

User Account

All Pages