The financial statements of PepsiCo, Inc. are presented in Appendix A at the end of this textbook.
Instructions
(a) Using the consolidated financial statements and related information, identify items that may result in adjusting entries for prepayments.
(b) Using the consolidated financial statements and related information, identify items that may result in adjusting entries for accruals.
(c) Using the Selected Financial Data and 5-Year Summary, what has been the trend since 2003 for net income?