I fail to understand what are the expenses other that general and depreciation.
ID: 2488322 • Letter: I
Question
I fail to understand what are the expenses other that general and depreciation.
What would Total Expense Equal and what accounts are expenses?
Identifying and Classifying Balance Sheet and Income Statement Accounts Following are selected accounts for Staples, Inc. (a) Indicate whether each account appears on the balance sheet (B) or income statement (1). S millions) Amount Classification Sales $24,545 Accumulated depreciation 3,556 Depreciation expense 498 Retained earnings 6,492 Net income 889 2,148 4,913 1,954 6,960 6,951 Property, plant & equipment, net Selling, general & administrative expense Accounts receivable Total liabilities Stockholders' equity (b) Using the data, compute total assets and total expenses. Total Assets- Total Expenses = 13,911 5,411 XExplanation / Answer
Total Expense =Sales-Net income=24,545-889=$23,656.
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