Amazon.com, Inc., operates as an online retailer in North America and internationally. Both Amazon and third parties,
Question:
Amazon.com, Inc., operates as an online retailer in North America and internationally. Both Amazon and third parties, via the Amazon.com Web site, sell products across various product categories.
The following items were adapted from the annual report of Amazon.com for the year ending December 31, 2010:
In millions
1. Accounts payable ............ $ 8,051
2. Accounts receivable ............ 1,587
3. Interest expense .............. 39
4. Inventories ................ 3,202
5. Cost of sales ............... 26,561
6. Selling, general, and administrative expenses . 6,237
7. Income tax expense ............ 352
8. Net cash provided by operating activities .... 3,495
9. Net cash flows used for investing activities .. 3,360
10. Net sales ................ 34,204
11. Other income .............. 137
12. Property, plant, and other long-term assets ... 5,050
13. Repurchase of capital stock ......... 600
14. Retained earnings (Dec. 31, 2010) ..... 1,324
Using the following notations, indicate on which financial statement you would find each of the preceding items.
IS . Income statement
RE . Retained earnings statement
BS . Balance sheet
SCF . Statement of cash flows
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
Step by Step Answer:
1 BS 2 BS 3 IS 4 BS ...View the full answer
