Kellogg Company is the worlds leading producer of ready-to-eat cereal and a leading producer of grain-based convenience
Question:
Instructions
Perform each of the following.
(a) In each case identify whether the item is an asset (A), liability (L), stockholders equity (SE), revenue (R), or expense (E).
(b) Prepare an income statement for Kellogg Company for the year ended December 31,2006.
Transcribed Image Text:
Retained earnings Cost of goods sold Selling and $3,630.4 6,081.5 Long-term debt Inventories 3,053.0 823.9 10,906.7 910.4 104.6 466.5 13.2 Net sales administrative expenses 3,059.4 410.6 1,268.0 307.4 Accounts payable Cash Common stoclk Notes payable Interest expense Income tax expense Other revenue
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a SE Retained earnings E Cost of goods sold E Selling and admi...View the full answer
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Related Book For
Financial Accounting Tools for Business Decision Making
ISBN: 978-0470239803
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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