3. Classify each of the following items according to (1) whether it belongs on the income...
3. Classify each of the following items according to (1) whether it belongs on the income statement (IS) or balance sheet (BS).
Item Classified as
a. Salaries expense _________________________
b. Equipment _________________________
c. Accounts payable _________________________
d. Membership fees earned _________________________
e. Capital stock _________________________
f. Accounts receivable _________________________
g. Buildings _________________________
h. Advertising expense _________________________
i. Retained earnings _________________________
Homework Answers
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3. Classify each of the following items according to (1) whether
it belongs on the income...
Classification of Financial Statement Items Classify each of the following items according to: 1. whether it...
Classification of Financial Statement Items Classify each of the following items according to: 1. whether it belongs on the income statement or balance sheet and 2. whether it is a revenue, expense, asset, liability, or stockholders' equity item. Item Appears on the Classified as Example: Cash Balance sheet Asset 1. Salaries expense 2. Equipment 3. Accounts payable 4. Membership fees earned 5. Capital stock 6. Accounts receivable 7. Buildings 8. Advertising expense 9. Retained earnings
Excercise1-7,1-8, paad during the made by the owners Exercise 1-7 The Accounting Equation For cach of...
Excercise1-7,1-8,
paad during the made by the owners Exercise 1-7 The Accounting Equation For cach of the following cases, fill in the blank with the appropriate dollar amount. LOS 3 Case 3 $40.00015.000 20000 20.000 Total assets, end of period Tocal Sabilities, end of period Capital stock, end of period Retained earnings, beginning of period Net income for the period Dividends for the period 75,000 $50000 0.000 10,000 15.000 5,000 6.00010000 9000 8.000 7,000 20,000 10,000 20,000 3.000 8.000 Exercise...
In Accounting Classify each of the following financial statement items based upon the major balance sheet...
In Accounting
Classify each of the following financial statement items based upon the major balance sheet classifications. Prepaid advertising Equipment Trademarks Salaries and wages payable Income taxes payable Retained earnings Accounts receivable Land (held for future use) Patents Bonds payable Common stock Accumulated depreciation-equipment Unearned sales revenue Inventory
Classify each of the following financial statement items based upon the major balance sheet classifications. Prepaid...
Classify each of the following financial statement items based upon the major balance sheet classifications. Prepaid advertising Equipment Trademarks Salaries and wages payable Income taxes payable Retained earnings Accounts receivable Land (held for future use) Patents Bonds payable Common stock Accumulated depreciation-equipment Unearned sales revenue Inventory
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]
The following items are available from records of Freescia Corporation at the end of the current...
The following items are available from records of Freescia Corporation at the end of the current year: Accounts payable $12,820 Notes payable $47,000 Accounts receivable 23,410 Office equipment 15,000 Advertising expense 2,480 Retained earnings, end of year 45,130 Buildings 88,500 Salary and wage expense 8,190 Capital stock 26,800 Sales revenue 14,660 Cash 4,840 Using the data given, prepare a balance sheet for Freescia Corporation at the end of the current year. Freescia Corporation Balance Sheet End of the Year Assets...
Required Identify whether each of the following items would appear on the income statement (IS), statement...
Required Identify whether each of the following items would appear on the income statement (IS), statement of changes in stockholders' equity (SE), balance sheet (BS), or statement of cash flows (CF). Some items may appear on more than one statement; If so, Identify all applicable statements. (Not all cells will require entry.) Statement Statement ces Item/Account a. Supplies b. Cash Flow from Financing Activities "As of Date Notation d. Ending Retained Earnings 0. Net Income 1. Dividends Net Change in...
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
Question 47 40 pts PROBLEM 2(40 Points The following items are listed alphabetically. Use the bolded...
Question 47 40 pts PROBLEM 2(40 Points The following items are listed alphabetically. Use the bolded abbreviations for your answers. Use Column 1 to indicate whether the item is found on the Balance Sheet (BS) or Income Statement (IS) For Balance Sheet items, use Column 2 to indicate the following: CA Current Asset, NCA Non Current Asset, PPE- Property, Plant & Equipment, IA-Intangible Asset CL Current Liability, NCL-Non Current Liability, or SE- Stockholders' Equity. Use Column 3 to indicate whether...
Indicate the financial statement on which each of the following items appears. Use I for income...
Indicate the financial statement on which each of the following items appears. Use I for income statement, E for statement of retained earnings, and B for balance sheet. a. Wages Expense b. Wages Payable c. Warehouse d. Janitorial Expense e. Accounts Payable f. Accounts Receivable 9. Advertising Expense h. Buildings i. Cash j. Commission Revenue k. Consulting Revenue 1. Delivery Expense
Classification of Financial Statement Items Classify each of the following items according to: 1. whether it belongs on the income statement or balance sheet and 2. whether it is a revenue, expense, asset, liability, or stockholders' equity item. Item Appears on the Classified as Example: Cash Balance sheet Asset 1. Salaries expense 2. Equipment 3. Accounts payable 4. Membership fees earned 5. Capital stock 6. Accounts receivable 7. Buildings 8. Advertising expense 9. Retained earnings
Excercise1-7,1-8,
paad during the made by the owners Exercise 1-7 The Accounting Equation For cach of the following cases, fill in the blank with the appropriate dollar amount. LOS 3 Case 3 $40.00015.000 20000 20.000 Total assets, end of period Tocal Sabilities, end of period Capital stock, end of period Retained earnings, beginning of period Net income for the period Dividends for the period 75,000 $50000 0.000 10,000 15.000 5,000 6.00010000 9000 8.000 7,000 20,000 10,000 20,000 3.000 8.000 Exercise...
In Accounting
Classify each of the following financial statement items based upon the major balance sheet classifications. Prepaid advertising Equipment Trademarks Salaries and wages payable Income taxes payable Retained earnings Accounts receivable Land (held for future use) Patents Bonds payable Common stock Accumulated depreciation-equipment Unearned sales revenue Inventory
Classify each of the following financial statement items based upon the major balance sheet classifications. Prepaid advertising Equipment Trademarks Salaries and wages payable Income taxes payable Retained earnings Accounts receivable Land (held for future use) Patents Bonds payable Common stock Accumulated depreciation-equipment Unearned sales revenue Inventory
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]
Required Identify whether each of the following items would appear on the income statement (IS), statement of changes in stockholders' equity (SE), balance sheet (BS), or statement of cash flows (CF). Some items may appear on more than one statement; If so, Identify all applicable statements. (Not all cells will require entry.) Statement Statement ces Item/Account a. Supplies b. Cash Flow from Financing Activities "As of Date Notation d. Ending Retained Earnings 0. Net Income 1. Dividends Net Change in...
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
Question 47 40 pts PROBLEM 2(40 Points The following items are listed alphabetically. Use the bolded abbreviations for your answers. Use Column 1 to indicate whether the item is found on the Balance Sheet (BS) or Income Statement (IS) For Balance Sheet items, use Column 2 to indicate the following: CA Current Asset, NCA Non Current Asset, PPE- Property, Plant & Equipment, IA-Intangible Asset CL Current Liability, NCL-Non Current Liability, or SE- Stockholders' Equity. Use Column 3 to indicate whether...
Indicate the financial statement on which each of the following items appears. Use I for income statement, E for statement of retained earnings, and B for balance sheet. a. Wages Expense b. Wages Payable c. Warehouse d. Janitorial Expense e. Accounts Payable f. Accounts Receivable 9. Advertising Expense h. Buildings i. Cash j. Commission Revenue k. Consulting Revenue 1. Delivery Expense
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