Does snap-on treat shipping and handling costs as product

Reference no: EM131571804

Accounting Assignment

350 words per question.

Use the 2016 Form 10-K for Snap-on Inc. to complete the requirements below. To obtain the Form 10-K, you can search EDGAR system at sec.org (follow the instructions in our text, Appendix A), or search "Corporate Information" on the company's corporate website. Read carefully the following portions of the document:

Notes to Financial Statements:

• Note 1 -> Summary of Accounting Policies

o "Shipping and handling"
o "Advertising and promotion"
• "Note 4: Inventories"

Questions:

1. Does Snap-on treat shipping and handling costs as product or period costs (or both)? How can you tell?

2. Does Snap-on treat advertising and promotion costs as product or period costs (or both)? How can you tell?

3. What are the three main categories of inventory does Snap-on report in its annual report?

4. After browsing the annual report, comment on two other interesting things that you learned about Snap-On Inc. during your research. Explain why you found these to be particularly interesting.

Required:

• Answer each of the above questions in complete sentences.
• Be sure to fully cite your sources used for each of your answers in 1-4. One source per item.

Reference no: EM131571804

Questions Cloud

Analyze at least two effective methods of e-learning : Analyze at least two effective methods of e-Learning that you have experienced in the last five years and discuss reasons the experiences were positive.

Find the height h of the cliff : A stone is projected at a cliff of height h with an initial speed of 46.0 m/s directed at an angle - Find the height h of the cliff

Evaluation of the performance of a subsidiary : Do you think it is important to separate the evaluation of the performance of a subsidiary from that of its manager? Why

How many cards must be chosen from standard deck of cards : How many cards must be chosen from a standard deck of 52 cards to guarantee that at least two of the four aces and at least two of the 13 kinds are chosen?

Does snap-on treat shipping and handling costs as product : Advertising and promotion- Does Snap-on treat shipping and handling costs as product or period costs (or both)? How can you tell?

Discuss bowenian family therapists : Which of the following is NOT likely to be characteristic of a Bowenian Family Therapists

Market segmentation theory of the term structure : Explain the logic of market segmentation theory of the term structure. Suppose you observed that from September 2016 to June 2017

Are there any tax elections that nanson may make to deal : anson Co. a calendar-year taxpayer, Are there any tax elections that Nanson may make to deal with this problem? Explain

What treatments are used for this condition : Summarize this condition in your own words: what is the cause, who is effected by it, and presentation of disease

User Account

All Pages