Though the McDonalds (MCD) menu of hamburgers, cheeseburgers, the Big Mac, Quarter Pounder, Filet-O-Fish, and Chicken McNuggets

Question:

Though the McDonald’s (MCD) menu of hamburgers, cheeseburgers, the Big Mac, Quarter Pounder, Filet-O-Fish, and Chicken McNuggets is easily recognized, McDonald’s financial statements may not be as familiar. The following items were adapted from a recent annual report of McDonald’s Corporation:

1. Accounts payable
2. Accrued interest payable
3. Cash
4. Cash provided by operations
5. Common Stock
6. Food and packaging costs used in operations
7. Income tax expense
8. Interest expense
9. Inventories
10. Long-term debt payable
11. Net income
12. Net increase in cash
13. Notes payable
14. Notes receivable
15. Occupancy and rent expense
16. Payroll expense
17. Prepaid expenses not yet used in operations
18. Property and equipment
19. Retained earnings
20. Sales

Identify the financial statement on which each of the preceding items would appear. An item may appear on more than one statement. Use the following notations:

IS                                     Income statement
SE                                    Statement of stockholders' equity
BS                                    Balance sheet
SCF                                  Statement of cash flows

Fantastic news! We've located the answer you've been seeking!

Step by Step Answer:

Related Book For  answer-question
Question Posted: