PepsiCo produces snack foods such as Fritos and Lay's potato chips, as well as beverages such as Pepsi and Mug Root Beer. The company had

Question

24 users unlocked this solution today!

PepsiCo produces snack foods such as Fritos and Lay's potato chips, as well as beverages such as Pepsi and Mug Root Beer. The company had the following condensed trial balance as of September 3, 2011, for the nine months ended September 3, 2011 ($ in millions):

1. Prepare PepsiCo's income statement for the nine months ended September 3, 2011.
2. Prepare PepsiCo's balance sheet  as of September 3,2011.

PepsiCo Trial Balance Debits Credits $17,834 Current assets Property and equipment, net Intangible assets, net Other assets Current liabilities Long term debt and other liabilities Stockholders' equity* Net revenue Cost of sales Selling, general, and administrative expenses Other expenses Cash dividends declared Total 20,737 34,131 2,676 17,565 33,810 21,379 46,346 21,862 16,995 2,461 2,404 $119,100 $119,100