Question:

1. Evaluate the costs just cited and determine whether the associated dollar amounts would be found on the firms balance sheet, income statement, or schedule of cost-of-goods-manufactured. (Note: In some cases, more than one answer will apply.)

My Answers

1. Salaries of players on the Boston Red Sox. - Income Statement

2. Year-end completed goods of Levi Strauss jeans- Balance Sheet, Schedule of cost of goods manufactured

3. Executive compensation costs at Home Depot - Income Statement

4. Advertising costs for Sony - Income Statement

5. Costs incurred during the period to insure a Ford plant against fire and flood losses - Schedule of cost of goods manufactured

6. Current years depreciation on a Carnival Cruise Line ship- Income Statement

7. The cost of printer ink and paper used during the period by Shutterfly- Schedule of cost of goods manufactured

8. Assembly-line wage cost incurred at a Kona bicycle plant- Schedule of cost of goods manufactured

9. Year-end production in process at Lenovo computer manufacturer- Balance Sheet, Schedule of cost of goods manufactured

10. The cost of products sold to customers of a Target store- Income Statement

11. The cost of products sold to distributors of carpet manufacturer Shaw Floors- Income Statement