Homework Answers
| Items | statement | Abbreviations |
| Sales | Income statement | IS |
| Cash | Balance sheet | BS |
| Gain on sale of building | Income statement | IS |
| Retained earnings | statement of retained earnings | SRE |
| Salary expense | income statement | IS |
| Capital stock | balance sheet | BS |
| Dividend paid | statement of retained earnings | SRE |
| Loss on sale of investment | income statement | IS |
| Income tax expense | income statement | IS |
| Net income | income statement and Statement of retained earnings | IS and SRE |
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1. Use the following abbreviations to indicate on which statement you would find each item below....
1. Indicate on which financial statement you would expect to find each of the following. If...
1. Indicate on which financial statement you would expect to find each of the following. If an item can be found on more than one statement, list each statement. Balance Sheet Example: Cash Notes payable Wages expense Cost of goods sold Sales revenue Inventory Income tax expense Dividends Retained earnings Accounts payable Equipment
The items below are taken from a financial statement at December 31, 2019. Indicate on which...
The items below are taken from a financial statement at December 31, 2019. Indicate on which statement – income statement (IS), Balance Sheet/Statement of Financial Position (BS), Statement of Changes in Equity (SCE) or Statement of cash flows (SCF) – you would find each of the below accounts or items. Note: please choose one answer for each item (i.e. some may appear on more than one statement). Account IS, BS, SCE, SCF 1 Accounts payable 2 Cash 3 Dividends 4...
Identify the financial statements in which you would find each of the items listed below. Some...
Identify the financial statements in which you would find each of the items listed below. Some items may appear on more than one statement. Indicate all financial statements that apply to each item. The possible choices are: B : Balance Sheet SE : Statement of Stockholders’ Equity I : Income Statement CF : Statement of Cash Flows Financial Statement Item Financial Statement a. Cost of goods sold b. Trademarks c. Inventories d. Retained earnings e. Unearned revenue f. Cash...
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1),...
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1), balance sheet (B), statement of retained earnings (E), or Statement of cash flows (CF) from the drop down provided. Postage expense b. Common stock c. Dividends d. Rent expense e. Note payable f. Supplies expense g. Supplies h. Insurance expense i. Equipment Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. c. e....
5-3. Financial Statements. hich it would For each of the following accounts be found in the...
5-3. Financial Statements. hich it would For each of the following accounts be found in the space provided. the following accounts, place the letter of the financial statement on which the space provided. Some items may appear on more than one statement. C. D. Income Statement Balance Sheet Statement of Retained Earnings Statement of Owners' Capital B. 6. Additional Paid-in Capital 1. Interest Revenue 7. Loss on Sale of Equipment 2. Dividends Payable 3. Supplies 8. Copyrights 4. Bonds Payable...
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]
Listed below are a number of financial statement captions. Indicate the following for each item: (1)...
Listed below are a number of financial statement captions. Indicate the following for each item: (1) the category of each item (Asset, Liability, Stockholders' Equity, Revenue, or Expense), and (2) the financial statement on which the item can usually be found (Income Statement or Balance Sheet) A. Asset |- Accounts Receivable (1) the category of each item (Asset, Liability, Stockholders' Equity, Revenue, or Expense) B. Balance Sheet Accounts Receivable (2) the financial statement on which the item can usually be...
Problem 2 Using the following template, indicate using the letters indicated where each of the numbered...
Problem 2 Using the following template, indicate using the letters indicated where each of the numbered items would appear on a multi-step income statement. If a particular item does not appear on an income statement, indicate such with N/A. Sales Gross Profit Operating Income C Income from Continuing Operations before tax Income from Continuing Operations Net Income 1. Accounting Department Salaries and Wages Expense 2. Cost of Goods Sold 3. Dividends 4. Loss on Restructuring of Manufacturing Process 5. Impairment...
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1),...
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1), balance sheet (B), statement of retained earnings (E), or cash from operating activities (CF) from the drop down provided. a. Haircutting revenue b. Commission revenue C. Cash from operating activities d. Rental revenue e. Trucks f. Rent expense g. Buildings h. Net decrease (or increase) in cash i. Factory
Extra Credit-Ch's 123 Saved Help Save Indicate in which financial statement(s) each item would most likely appear, b...
Extra Credit-Ch's 123 Saved Help Save Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (I). balance sheet (B). statement of retained earnings (E), or cash from operating activities (CF) from the drop down provided. points eBook a. Dividends Postage expense Janitorial expense d. Rent payable Factory Haircutting revenue g Cash from operating activities h. Legal expense i Advertising expense
1. Indicate on which financial statement you would expect to find each of the following. If an item can be found on more than one statement, list each statement. Balance Sheet Example: Cash Notes payable Wages expense Cost of goods sold Sales revenue Inventory Income tax expense Dividends Retained earnings Accounts payable Equipment
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1), balance sheet (B), statement of retained earnings (E), or Statement of cash flows (CF) from the drop down provided. Postage expense b. Common stock c. Dividends d. Rent expense e. Note payable f. Supplies expense g. Supplies h. Insurance expense i. Equipment Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. c. e....
5-3. Financial Statements. hich it would For each of the following accounts be found in the space provided. the following accounts, place the letter of the financial statement on which the space provided. Some items may appear on more than one statement. C. D. Income Statement Balance Sheet Statement of Retained Earnings Statement of Owners' Capital B. 6. Additional Paid-in Capital 1. Interest Revenue 7. Loss on Sale of Equipment 2. Dividends Payable 3. Supplies 8. Copyrights 4. Bonds Payable...
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]
Listed below are a number of financial statement captions. Indicate the following for each item: (1) the category of each item (Asset, Liability, Stockholders' Equity, Revenue, or Expense), and (2) the financial statement on which the item can usually be found (Income Statement or Balance Sheet) A. Asset |- Accounts Receivable (1) the category of each item (Asset, Liability, Stockholders' Equity, Revenue, or Expense) B. Balance Sheet Accounts Receivable (2) the financial statement on which the item can usually be...
Problem 2 Using the following template, indicate using the letters indicated where each of the numbered items would appear on a multi-step income statement. If a particular item does not appear on an income statement, indicate such with N/A. Sales Gross Profit Operating Income C Income from Continuing Operations before tax Income from Continuing Operations Net Income 1. Accounting Department Salaries and Wages Expense 2. Cost of Goods Sold 3. Dividends 4. Loss on Restructuring of Manufacturing Process 5. Impairment...
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1), balance sheet (B), statement of retained earnings (E), or cash from operating activities (CF) from the drop down provided. a. Haircutting revenue b. Commission revenue C. Cash from operating activities d. Rental revenue e. Trucks f. Rent expense g. Buildings h. Net decrease (or increase) in cash i. Factory
Extra Credit-Ch's 123 Saved Help Save Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (I). balance sheet (B). statement of retained earnings (E), or cash from operating activities (CF) from the drop down provided. points eBook a. Dividends Postage expense Janitorial expense d. Rent payable Factory Haircutting revenue g Cash from operating activities h. Legal expense i Advertising expense
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