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Homework answers / question archive / Eskimo Pie Corporation markets a broad range of frozen treats, including its famous Eskimo Pie ice cream bars

Eskimo Pie Corporation markets a broad range of frozen treats, including its famous Eskimo Pie ice cream bars

Accounting

Eskimo Pie Corporation markets a broad range of frozen treats, including its famous Eskimo Pie ice cream bars. The following items 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

Income tax expense

Inventory

Accounts payable

Retained earnings

Equipment

Sales revenue.

Cost of goods sold

Common stock

Accounts receivable

Interest expense. 

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Answer:

Classification :

Income statement Income tax expense
Balance sheet Inventory
Balance sheet account payable
Balance sheet retained earnings
Balance sheet equipment
Income statement Sales revenue
Income statement Cost of goods sold
Balance sheet Common Stock
Balance sheet Account receivable
Income statement Interest expense
   
   

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