Amazon.com, Inc., operates as an online retailer in North America and internationally. Both Amazon and third parties,
Question:
The following items were adapted from a recent annual report of Amazon.com for the year ending December 31, 20Y1:
In millions
1. Accounts payable ............... $14,896
2. Accounts receivable .............. 2,922
3. Cash .................... 5,269
4. Cost of sales .................. 37,288
5. Income tax expense .............. 291
6. Interest expense ................ 65
7. Inventories .................. 4,992
8. Net cash provided by operating activities ....... 3,903
9. Net cash flows used for investing activities .... (1,930)
10. Net sales .................. 48,077
11. Other income ................. 125
12. Property, plant, and other long-term assets ...... 7,788
13. Selling, general, and administrative expenses ..... 9,927
14. Retained earnings (Jan. 1, 20Y1) .......... 1,955
Using the following notations, indicate on which financial statement you would find each of the preceding items.
Accounts Payable
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...
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