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Category > Accounting Posted 24 Aug 2017 My Price 8.00

Carnival Corporation

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

                           

                    

 

Answers

Maurice Tutor
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Status NEW Posted 24 Aug 2017 11:08 PM My Price 8.00

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