Question 7 1 pts ABC Company experienced an accounting event that is shown in the following...
Addison Company experienced an accounting event that affected its financial statements as indicated below: Assets = Liab. + Equity Rev. ? Exp. = Net Inc. Cash Flow + NA + + NA + NA Which of the following accounting events could have caused these effects on Addison's statements?
Question 14 (1 point) Flynn Company experienced an accounting event that affected its financial statements as indicated below: Assets Liab. + Equity Rev. NA NA Exp. + Net Inc. Cash Flow NA Which of the following accounting events could have caused these effects on Flynn's statements? 1) Recognized depletion expense on a copper mine. O2) Recognized depreciation expense under the double declining balance method. 3) Amortized patent cost under the straight-line method. 4) All of these.
Which of the following shows how the event "collected cash for services to be rendered in the future" affects a company's financial statements? Balance Sheet Liab. Assets + Equity NA Income Statement Exp. Net Inc. NA NA NA NA A. + Rev. NA NA NA + Statement of Cash Flows OA +OA +OA NA + NA + B. C. D. + + + NA NA + NA NA NA
man Company sold land for $25,000 cash. The original cost of the land was $25,000. Which of the accurately reflects how this event affects the company's financial statements? AssetsLiab.Equity Rev A. NANA NA NA B. (25,000)NA(25,000) NA 25,000 | 5,000 NAİNA Exp.Net Stmt of NA NANA (25,000) NA NA Cash Inc Flows NA 25,000 IA IA D. None of these 28) - A) Option A B) Option B C) Option C D) Option D 29) Which of the following could...
39) Delta a Company experienced an accounting event that affected its financial statements as indicated below: Stmt of Asset Liab· +| Equity | Rev.-Exp- Net Inc. NA NA Which of the following accounting events could have caused these effects on the elements of Delta's statements? 39) A) Earned cash revenue C) Paid a cash dividend B) Borrowed money from a bank D) Incurred a cash expense
Knopp Company experienced an event that had the following effects on its financial statements. Balance sheet Income Statement Statement of Cash Flows Assets = Liabilities + Equity Rev. − Exp. = Net Inc. + NA + + NA + + OA Which of the following events would have caused these effects? Earned cash revenue Borrowed money Purchased land with cash Issued stock for cash
30) C hico Company experienced an accounting event that affected its financial statements as indicated below: AssetsLiab. Equity Rev. Exp.Net Inc.Cash Flow Stmt of NA NA NA NA +FA Which of the following accounting events could have caused these effects on the elements of Chico's financial statements? 30) A) Paid a cash dividend C) Issued common stock B) Earned cash revenue D) Borrowed money from a bank
A,.Which of the following shows how acquiring cash from the issue of common stock will affect a company’s financial statements? Balance sheet Income Statement Statement of Cash Flows Assets = Liabilities + Equity Rev. − Exp. = Net Inc. A. + = NA + + NA − NA = NA NA B. + = NA + + NA − NA = NA + IA C. + = NA + + NA − NA = NA + FA D. + =...
Supplies, unearned revenue, and the financial statements model Hart, Attorney at Law, experienced the following transactions in 2018, the first year of operations: 1. Accepted $36,000 on April 1, 2018, as a retainer for services to be performed evenly over the next 12 months. 2. Performed legal services for cash of $54,000. 3. Purchased $2,800 of office supplies on account. 4. Paid $2,400 of the amount due on accounts payable. 5. Paid a cash dividend to the stockholders of $5,000....
Which of the following illustrates how a cash dividend affects a company’s financial statements? Balance Sheet Income Statement Statement Assets=Liab+Equity Rev.-Exp.= Net Inc. n a Cash Flow n'a n'a n'a n'a a. +OA -OA -FA n/a C. n a n a n/a na