Indicate whether each of the following items will be reported on the statement of financial position (SFP), statement of income (SI), both the statement of financial position and statement of income (B), or neither statement (N)—for example, it might appear only on the statement of cash flows.
Homework Answers
Solution
| Reported on | |
| a | SFP |
| b | SFP |
| c | SFP |
| d | SI |
| e | SI |
| f | N |
| g | SI |
| h | N |
| i | N |
| j | N |
Shares issued years ago are not reported anywhere but the shares actually due on the date of balance sheet are reported.
Sales anticipated next year is for budgeted income statement only.
Payment made to reduce principle paayment is for statement of cash flows.
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