The financial statements of Tootsie Roll are presented in Appendix A at the end of this book Instructions (a) Using the consolidated income statement and balance sheet, identify items that may result in adjusting entries for deferrals (b) Using the consolidated income statement , identify two items...

The financial statements of Tootsie Roll are presented in Appendix A at the end of this book.

Question:

The of Tootsie Roll are presented in Appendix A at the end of this book.
Instructions
(a) Using the and balance sheet, identify items that may result in adjusting entries for deferrals.
(b) Using the , identify two items that may result in adjusting entries for accruals.
(c) What was the amount of depreciation expense for 2009 and 2008? (You will need to examine the notes to the or the statement of cash flows.) Where was accumulated depreciation reported?
(d) What was the cash paid for income taxes during 2009, reported at the bottom of the consolidated statement of cash flows? What was income tax expense (provision for income taxes) for 2009?

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... Consolidated Income Statement
When talking about the group financial statements the consolidated financial statements include Consolidated Income Statement that a parent must prepare among other sets of consolidated financial statements. Consolidated Income statement that is...