Homework Answers
Answer:
| Item |
Income Statement |
Statement of Changes in Stockholders' Equity |
Balance Sheet |
Statement of Cash Flows |
| Financial activities | ü | |||
| Ending Common stock | ü | |||
| Interest expense | ü | |||
| As of (date) | ü | |||
| Land | ü | |||
| Beginning cash balance | ü | |||
| Notes payable | ü | |||
| Beginning common stock | ü | |||
| Service revenue | ü | |||
| Utility expense | ü | |||
| Stock issued | ü | |||
| Operating activities | ü | |||
| For the period ended (date) | ü | ü | ü | |
| Net income | ü | |||
| Investing activities | ü | |||
| Net loss | ü | |||
| Ending cash balance | ü | |||
| Salary expense | ü | |||
| Consulting revenue | ü | |||
| Dividends | ü |
Disclaimer: please consider the symbol 'ü ' as tick mark because i'm unable to use the tick mark symbol.
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Relating titles and accounts to financial statements Required Identify the financial statements on which each of...
Excersise 2.26 a sla D. Prepare Exercise 2-26 Required Relationship of accounts to financial statements Identify...
Excersise 2.26
a sla D. Prepare Exercise 2-26 Required Relationship of accounts to financial statements 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. If an item would not appear on any financial statement, label it NA. a. Supplies b. Cash Flow from Financing...
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...
Suppose you are analyzing the financial statements of Corley, Inc. Identify each item with its appropriate...
Suppose you are analyzing the financial statements of Corley, Inc. Identify each item with its appropriate financial statement, using the following abbreviations Income statement Statement of retained earnings (R), Balance sheet (B), and Statement of cash flows (C). Three me appear on two financial statements, and one iter shows up on three statements (F. In all of the boxes before checking your answers.) Identify each account or heading with the appropriate financial statement(s) Financial Account or Heading Statement a. Salary...
The following is a list of accounts commonly seen in financial statements. Identify whether each account...
The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance sheet as an asset, a liability, or an equity account, or whether it appears on the income statement as a revenue or an expense. Account Accounts Payable Property, plant, and Equipment Inventories Long-Term Debt Cost of Goods Sold Retained Earnings Research and Development Prepaid Expense Common Stock Accounts Receivable
The following is a list of accounts commonly seen in financial statements. Identify whether each account...
The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance sheet as an asset, a liability, or an equity account, or whether it appears on the income statement as a revenue or an expense. Account Accounts Payable Liability Property, Plant, and Equipment Ass Expense Inventories Equity Long-Term Debt Revenue Cost of Goods Sold Liability Retained Earnings Research and Development Asset Exp Prepaid Expense Equity Common Stock Accounts Receivable Asset
Calculate and fill in the correct amounts for all blanks in the 2019 financial statements of...
Calculate and fill in the correct amounts for all blanks in the 2019 financial statements of Baxter's Bowling Alley. Use your knowledge of the financial statement relationships to verify the accuracy of your statements upon completion Baxter's Bowling Alley Baxter's Bowling Alley Balance Sheet Income Statement As of December 31, 2019 For the Year Ended December 31, 2019 Assets Revenue Sales revenue 175,315 Cash 75,666 Interest revenue 6,600 Accounts receivable 9,370 Total revenue Office supplies 808 Equipment 93,560 Expenses Total...
Please identify 5 errors in the following financial statements. Note: The 4 financial statements are for...
Please identify 5 errors in the following financial statements. Note: The 4 financial statements are for different companies. They are not related. You must clearly specify each financial statement name and its issue(s). Blazers Corporation Income Statement For the Years Ended December 31, 2016 and 2017 2016 2017 Service revenue 82,000 54,700 Total revenue 82,000 54,700 41,000 3,000 Expenses Operating expenses Supplies expenses Prepaid rent Salaries expenses Tcal expenses 39,500 2,900 5,900 8,000 56,300 44,000 Net Income(loss) 38,000 (1,600) 2016...
At the beginning of Year 1, Oak Consulting had the following normal balances in its accounts:...
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Required information [The following information applies to the questions displayed below.] At the beginning of Year...
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At the beginning of 2016, Oak Consulting had the following normal balances in its accounts: Account...
At the beginning of 2016, Oak Consulting had the following
normal balances in its accounts:
Account
Balance
Cash
$42,000
Accounts receivable
25,000
Accounts payable
8,400
Common stock
24,000
Retained earnings
34,600
The following events apply to Oak's Consulting for 2016:
1.
Provided $185,000 of services on account.
2.
Incurred $45,800 of operating expenses on account.
3.
Collected $140,000 of accounts receivable.
4.
Paid $120,000 cash for salaries expense.
5.
Paid $31,400 cash as a partial payment on accounts
payable.
6....
Excersise 2.26
a sla D. Prepare Exercise 2-26 Required Relationship of accounts to financial statements 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. If an item would not appear on any financial statement, label it NA. a. Supplies b. Cash Flow from Financing...
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...
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The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance sheet as an asset, a liability, or an equity account, or whether it appears on the income statement as a revenue or an expense. Account Accounts Payable Property, plant, and Equipment Inventories Long-Term Debt Cost of Goods Sold Retained Earnings Research and Development Prepaid Expense Common Stock Accounts Receivable
The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance sheet as an asset, a liability, or an equity account, or whether it appears on the income statement as a revenue or an expense. Account Accounts Payable Liability Property, Plant, and Equipment Ass Expense Inventories Equity Long-Term Debt Revenue Cost of Goods Sold Liability Retained Earnings Research and Development Asset Exp Prepaid Expense Equity Common Stock Accounts Receivable Asset
Calculate and fill in the correct amounts for all blanks in the 2019 financial statements of Baxter's Bowling Alley. Use your knowledge of the financial statement relationships to verify the accuracy of your statements upon completion Baxter's Bowling Alley Baxter's Bowling Alley Balance Sheet Income Statement As of December 31, 2019 For the Year Ended December 31, 2019 Assets Revenue Sales revenue 175,315 Cash 75,666 Interest revenue 6,600 Accounts receivable 9,370 Total revenue Office supplies 808 Equipment 93,560 Expenses Total...
Please identify 5 errors in the following financial statements. Note: The 4 financial statements are for different companies. They are not related. You must clearly specify each financial statement name and its issue(s). Blazers Corporation Income Statement For the Years Ended December 31, 2016 and 2017 2016 2017 Service revenue 82,000 54,700 Total revenue 82,000 54,700 41,000 3,000 Expenses Operating expenses Supplies expenses Prepaid rent Salaries expenses Tcal expenses 39,500 2,900 5,900 8,000 56,300 44,000 Net Income(loss) 38,000 (1,600) 2016...
At the beginning of 2016, Oak Consulting had the following
normal balances in its accounts:
Account
Balance
Cash
$42,000
Accounts receivable
25,000
Accounts payable
8,400
Common stock
24,000
Retained earnings
34,600
The following events apply to Oak's Consulting for 2016:
1.
Provided $185,000 of services on account.
2.
Incurred $45,800 of operating expenses on account.
3.
Collected $140,000 of accounts receivable.
4.
Paid $120,000 cash for salaries expense.
5.
Paid $31,400 cash as a partial payment on accounts
payable.
6....
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