1. For each of the following, insert one or more capital letters to identify the financial...
1. For each of the following, insert one or more capital letters to identify the financial statement(s) where the item is found. Some items are found on only one statement, while others appear on more than one statement.
a. Net Income
b. End-of-period retained earnings balance
c. Depreciation expense
d. Dividends declared
Question options:
-Income Statement
-Balance Sheet
-Statement of Cash Flows
-Statement of Retained Earnings
Homework Answers
Answer
| a | Net Income | Income Statement, Statement of retained earnings, and Statement of Cash Flows (if indirect method is in use) |
| b | End balance of Retained earnings | Statement of Retained earnings, Balance Sheet. |
| c | Depreciation Expense | Income Statement, and Statement of Cash Flows (if indirect method is in use) |
| d | Dividends declared | Statement of Retained earnings |
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