Consider the following cost items:
1. Salaries of players on the Boston Red Sox.
2. Year-end completed goods of Levi Strauss jeans.
3. Executive compensation costs at Home Depot.
4. Advertising costs for Sony.
5. Costs incurred during the period to insure a Ford plant against
fire and flood losses.
6. Current year’s depreciation on a Carnival Cruise Line
ship.
7. The cost of printer ink and paper used during the period by
Shutterfly.
8. Assembly-line wage cost incurred at a Kona bicycle plant.
9. Year-end production in process at Lenovo computer
manufacturer.
10. The cost of products sold to customers of a Target store.
11. The cost of products sold to distributors of carpet
manufacturer Shaw Floors.
Required:
1. Evaluate the costs just cited, and determine whether the
associated dollar amounts would be found
on the firm’s balance sheet, income statement, or schedule of
cost-of-goods-manufactured. (Note:
In some cases, more than one answer will apply.)
2. What major asset will normally be insignificant for service
enterprises and relatively substantial
for retailers, wholesalers, and manufacturers? Briefly
discuss.
3. Briefly explain the major differences between income statements
of service enterprises versus
those of retailers, wholesalers and manufacturers
Consider the following cost items: 1. Salaries of players on the Boston Red Sox. 2. Year-end...
Complete Problems 2-37 and 3-47 in the textbook. Complete Problem 2-37 in a Word document and Problem 3-47 in Excel. Please note, you must show your work in Excel, which includes providing the formulas in the cells, not just the summary value. You may not earn full points if you do not show your work in detail. ......................................................................................................................................................................…………….. Problem 2–37 Content of Financial State-ments and Reports. Consider the following cost items: 1. Salaries of players on the Boston Red Sox....