Homework Answers
24 ) Cash : In Balance Sheet, under the head Current Asset
25) Wages payable : In Balance Sheet , under the head current liability
26)Insurance expense : In Income statement
27)Service Revenue : In Income statement
28)Unearned Revenue : In Balance Sheet, under the head Current liability
29)Dividend :Statement of changes in stockholders equity
30)Accounts Receivable: In Balance Sheet , under the head current asset
31)Retained Earnings:In Balance Sheet , under Stockholder's Equity
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24-31
For each of the following items, indicate the financial statement where you are likely to...
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...
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....
Indicate the financial statement on which each of the following items appears. Use / for Income...
Indicate the financial statement on which each of the following items appears. Use / for Income statement, E for statement of retained earnings, and B for balance sheet. a. Supplies Furniture c. Warehouse d. Fuel Expense e. Haircutting Revenue f. Accounts Payable 9. Taxes Payable h. Unearned Store Sales i Consulting Revenue Salaries Payable k. Unearned Ticket Revenue I Dividends < Prev 37 of 63 !!! Next > MacBook Air
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...
The following items and amounts were taken from Skysong, Inc.'s 2017 income statement and balance sheet...
The following items and amounts were taken from Skysong, Inc.'s 2017 income statement and balance sheet Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory Accounts receivable Sales revenue Notes payable Accounts payable Service revenue Interest expense $ 94,300 122,000 438,800 118,800 8,100 64,700 87,400 583,700 6,800 53,200 5,400 1,850 In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Asset Cash Stockholders' Equity Retained earnings Expense Cost...
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...
In Accountant The following items and amounts were taken from Cullumber Company's 2022 income statement and...
In Accountant
The following items and amounts were taken from Cullumber Company's 2022 income statement and balance sheet. Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $ 86,400 Accounts receivable $ 90,400 121,700 Sales revenue 586,000 436,500 Notes payable 6,400 117,700 Accounts payable 55,000 8,100 Service revenue 4,500 64,300 Interest expense 1,700 (a) In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Cash Retained earnings Cost...
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
These financial statement items are for Regent Company at year-end, July 31, 2015. Salaries and wages...
These financial statement items are for Regent Company at year-end, July 31, 2015. Salaries and wages payable $ 2,980 Notes payable (long-term) $ 3,000 Salaries and wages expense 45,700 Cash 5,200 Utilities expense 21,100 Accounts receivable 9,780 Equipment 38,000 Accumulated depreciation 6,000 Accounts payable 4,100 Dividends 4,000 Service revenue 57,200 Depreciation expense 4,000 Rent revenue 6,500 Retained earnings 28,000 Common stock 20,000 (Aug. 1, 2014) Prepare an income statement and a retained earnings statement for the year. Stockholders not make...
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
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....
Indicate the financial statement on which each of the following items appears. Use / for Income statement, E for statement of retained earnings, and B for balance sheet. a. Supplies Furniture c. Warehouse d. Fuel Expense e. Haircutting Revenue f. Accounts Payable 9. Taxes Payable h. Unearned Store Sales i Consulting Revenue Salaries Payable k. Unearned Ticket Revenue I Dividends < Prev 37 of 63 !!! Next > MacBook Air
The following items and amounts were taken from Skysong, Inc.'s 2017 income statement and balance sheet Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory Accounts receivable Sales revenue Notes payable Accounts payable Service revenue Interest expense $ 94,300 122,000 438,800 118,800 8,100 64,700 87,400 583,700 6,800 53,200 5,400 1,850 In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Asset Cash Stockholders' Equity Retained earnings Expense Cost...
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...
In Accountant
The following items and amounts were taken from Cullumber Company's 2022 income statement and balance sheet. Cash Retained earnings Cost of goods sold Salaries and wages expense Prepaid insurance Inventory $ 86,400 Accounts receivable $ 90,400 121,700 Sales revenue 586,000 436,500 Notes payable 6,400 117,700 Accounts payable 55,000 8,100 Service revenue 4,500 64,300 Interest expense 1,700 (a) In each case, identify whether the item is an asset, liability, stockholders' equity, revenue, or expense item. Cash Retained earnings Cost...
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
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
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