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bachelor in business administration
Polytechnic State University Sanluis
Jan-2006 - Nov-2010
CPA
Polytechnic State University
Jan-2012 - Nov-2016
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Harvard Square Academy (HS2)
Mar-2012 - Present
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.
Â
|
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 |
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