Homework Answers
| items | (1) statement | (2) Account type |
| 1. Accounts receivable | B/S | Real Account (Current Assets) |
| 2. Sales Revenue | I/S | Nominal Account(Operating Income) |
| 3. Equipment | B/S | Real Account (Long term Asset) |
| 4. supplies Expenses | I/S | Nominal Account (Operating Expenses) |
| 5. Cash | B/S | Real Account (Current Asset) |
| 6. Advertising Expense | I/S | Nominal Account (non operating expenses) |
| 7. Accounts Payable | B/S | Real Account (Current Liability) |
| 8. Retained earnings | B/S | Real Account (stockholders' equity) |
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each item, select () whether it is reported on the income statement (/S) or balance sheet...
For each item, select (1) whether it is reported on the income statement (/S) or balance...
For each item, select (1) whether it is reported on the income statement (/S) or balance sheet (B/S) (2) the type of account. Item (1) Statement (2) Account Type 1. Accounts Receivable 2. Sales Revenue 3. Equipment 4. Supplies Expense 5. Cash 6. Advertising Expense 7. Accounts Payable Asset Expense Liability Revenue Stockholders' Equity 8. Retained Earnings
Oakley, Inc., reported the following items in its financial statements. For each item, select (1) the...
Oakley, Inc., reported the following items in its financial statements. For each item, select (1) the type of account and (2) whether it is reported on the income statement (/S), statement of retained earnings (SRE), and/or balance sheet (B/S). (1) Type (2) Statement 2. Common Stock IS 3. Sales Revenue /s Asset Dividend Expense Liability /S 5. Cash 6. Notes Payable 7. Accounts Payable 8. Retained Earnings, Beginning of Year rs RE
Indicate in the space provided by each item whether it would appear on the income statement,...
Indicate in the space provided by each item whether it would appear on the income statement, balance sheet, or retained earnings statement: Service Revenue (Choose] Utilities Expense (Choose) (Choose] Accounts Payable (Choose) Supplies (Choose] Salaries and Wages Expense (Choose ] Accounts Receivable (Choose] Common Stock (Choose) Equipment (Choose) Advertising Expense (Choose] Dividends (Choose) Notes Payable (Choose]
For each account or description below, select the financial statement(s) on which it would be reported....
For each account or description below, select the financial statement(s) on which it would be reported. A few accounts will appear on more than one financial statement. Income Statement Statement of Stockholders' Equity Balance Sheet a) Accounts receivable b) Retained earnings c) Insurance Expense d) Fee revenue e) Supplies f) Certificate of deposit g) Cost of goods sold b) Note payable 1) Salary expense i) Dividends k) Common stock 1) Accounts payable m) Equipment n) Net income 0) Cash Totals...
State whether each of the following is a balance sheet, income statement, or a statement of...
State whether each of the following is a balance sheet, income
statement, or a statement of retained earnings
Indicat would appear on. e from the drop down menu which financial statement each of the following accounts Rent Expense Accounts Receivable Supplies Dividends Rent Revenue Accounts Payable Supplies Expense Retained Earnings Cash Common Stock Salary Expense
Tootsie Roll Industries manufactures and sells more than 64 million Tootsie Rolls each day. The following...
Tootsie Roll Industries manufactures and sells more than 64 million Tootsie Rolls each day. The following items were listed on Tootsie Roll's recent income statement and balance sheet. For each item, select (1) the type of account and (2) whether it is reported on the income statement (V/S) or balance sheet (B/s (1) Type (2) Statement Asset Expense Asset Asset Expense Revenue Liability Stockholders' Equity Liability 1. Accounts Receivable 2 Office Expenses 3. Cash 5. Advertising Expense 6. Sales Revenue...
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1),...
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1), balance sheet (B), statement of retained earnings (E), or Statement of cash flows (CF) from the drop down provided. Postage expense b. Common stock c. Dividends d. Rent expense e. Note payable f. Supplies expense g. Supplies h. Insurance expense i. Equipment Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. c. e....
Each of the following accounts would find its balance reported on either the income statement or...
Each of the following accounts would find its balance reported on either the income statement or balance sheet Required: For each account, indicate which of these financial statements the account's balance should be reported on. In addition, if the account's balance should be found on the balance sheet, further indicate if it is found in the asset, liability, or owners' equity section. There is only one possible answer for each account. Example: Cash = Balance Sheet-asset Utilities Expense Choose... Retained...
Instructions: Below is the adjusted trial balance for Central Advertising Inc. (1) Prepare an Income Statement,...
Instructions: Below is the adjusted trial balance for Central Advertising Inc. (1) Prepare an Income Statement, Statement of Retained Earnings, and a Balance Sheet. (2) Then prepare closing entries, post them to t-accounts, and prepare a post-closing trial balance. Central Advertising Inc. Adjusted Trial Balance August 31, 20xx Income Statement $19075 4750 1250 700 8000 $ 200 600 2000 Cash Accounts Receivable Prepaid Insurance Advertising Supplies Equipment Accumulated Depe Accounts Payable Unearned Revenue Interest Payable Notes Payable Common Stock Retained...
For each item, select (1) whether it is reported on the income statement (/S) or balance sheet (B/S) (2) the type of account. Item (1) Statement (2) Account Type 1. Accounts Receivable 2. Sales Revenue 3. Equipment 4. Supplies Expense 5. Cash 6. Advertising Expense 7. Accounts Payable Asset Expense Liability Revenue Stockholders' Equity 8. Retained Earnings
Oakley, Inc., reported the following items in its financial statements. For each item, select (1) the type of account and (2) whether it is reported on the income statement (/S), statement of retained earnings (SRE), and/or balance sheet (B/S). (1) Type (2) Statement 2. Common Stock IS 3. Sales Revenue /s Asset Dividend Expense Liability /S 5. Cash 6. Notes Payable 7. Accounts Payable 8. Retained Earnings, Beginning of Year rs RE
Indicate in the space provided by each item whether it would appear on the income statement, balance sheet, or retained earnings statement: Service Revenue (Choose] Utilities Expense (Choose) (Choose] Accounts Payable (Choose) Supplies (Choose] Salaries and Wages Expense (Choose ] Accounts Receivable (Choose] Common Stock (Choose) Equipment (Choose) Advertising Expense (Choose] Dividends (Choose) Notes Payable (Choose]
For each account or description below, select the financial statement(s) on which it would be reported. A few accounts will appear on more than one financial statement. Income Statement Statement of Stockholders' Equity Balance Sheet a) Accounts receivable b) Retained earnings c) Insurance Expense d) Fee revenue e) Supplies f) Certificate of deposit g) Cost of goods sold b) Note payable 1) Salary expense i) Dividends k) Common stock 1) Accounts payable m) Equipment n) Net income 0) Cash Totals...
State whether each of the following is a balance sheet, income
statement, or a statement of retained earnings
Indicat would appear on. e from the drop down menu which financial statement each of the following accounts Rent Expense Accounts Receivable Supplies Dividends Rent Revenue Accounts Payable Supplies Expense Retained Earnings Cash Common Stock Salary Expense
Tootsie Roll Industries manufactures and sells more than 64 million Tootsie Rolls each day. The following items were listed on Tootsie Roll's recent income statement and balance sheet. For each item, select (1) the type of account and (2) whether it is reported on the income statement (V/S) or balance sheet (B/s (1) Type (2) Statement Asset Expense Asset Asset Expense Revenue Liability Stockholders' Equity Liability 1. Accounts Receivable 2 Office Expenses 3. Cash 5. Advertising Expense 6. Sales Revenue...
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1), balance sheet (B), statement of retained earnings (E), or Statement of cash flows (CF) from the drop down provided. Postage expense b. Common stock c. Dividends d. Rent expense e. Note payable f. Supplies expense g. Supplies h. Insurance expense i. Equipment Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. c. e....
Each of the following accounts would find its balance reported on either the income statement or balance sheet Required: For each account, indicate which of these financial statements the account's balance should be reported on. In addition, if the account's balance should be found on the balance sheet, further indicate if it is found in the asset, liability, or owners' equity section. There is only one possible answer for each account. Example: Cash = Balance Sheet-asset Utilities Expense Choose... Retained...
Instructions: Below is the adjusted trial balance for Central Advertising Inc. (1) Prepare an Income Statement, Statement of Retained Earnings, and a Balance Sheet. (2) Then prepare closing entries, post them to t-accounts, and prepare a post-closing trial balance. Central Advertising Inc. Adjusted Trial Balance August 31, 20xx Income Statement $19075 4750 1250 700 8000 $ 200 600 2000 Cash Accounts Receivable Prepaid Insurance Advertising Supplies Equipment Accumulated Depe Accounts Payable Unearned Revenue Interest Payable Notes Payable Common Stock Retained...
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