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identify which of the following lists of accounts would belong
on the statement of retaine
Identify...
Closing accounts and the accounting cycle Required a. Identify which of the following accounts are temporary...
Closing accounts and the accounting cycle Required a. Identify which of the following accounts are temporary will be closed to Retained Earnings at the end of the year) and which are permanent: (1) Other Operating Expenses (2) Utilities Expense (3) Retained Earnings (4) Salaries Expense (5) Land (6) Dividends (7) Service Revenue (8) Cash (9) Salaries Payable (10) Common Stock
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...
5. The following are accounts reported in the financial statements: A. Balance Sheet B. Income Statement...
5. The following are accounts reported in the financial statements: A. Balance Sheet B. Income Statement C. Statement of Stockholders' Equity Indicate where each of the following accounts is reported in the financial statements using the letters above. (Identify all reports that may apply for each item below.) II. Identify if the account is permanent(P) or temporary (T). Fill in lists below for items I and II Notes Receivable Cash & Cash Equivalents Dividends Accounts Payable Salary Expense Unearned Rent...
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
Classify each account type (asset, liability, equity, revenue or expense), and identify which financial statement it...
Classify each account type (asset, liability, equity, revenue or expense), and identify which financial statement it would be reported on: Account Account Type Financial Statement 1. Cost of Goods Sold 2. Inventory 3. Retained Earnings 4. Accounts Payable 5. Land 6. Dividends 7. Service Revenue 8. Prepaid Expense 9. Long Term Debt 10. Common Shares
Consider the following typical accounts and statement items and indicate on which statement(s)—income statement, statement of...
Consider the following typical accounts and statement items and indicate on which statement(s)—income statement, statement of financial position, statement of changes in equity, and/or statement of cash flows—you would find each of the accounts or items. 1. Sales 2. Cash 3. Cash provided by operating activities 4. Service revenue 5. Common shares 6. Dividends declared 7. Net income 8. Accounts receivable 9. Inventory 10. Income tax expense 11. Interest expense 12. Cash used by investing activities 13. Equipment 14. Retained...
(2pts) Account classification #2: Below are selected accounts of The Gathering Sound, Ltd. For each account, write whether...
(2pts) Account classification #2: Below are selected accounts of The Gathering Sound, Ltd. For each account, write whether it would appear on their Income Statement as a Revenue (R) or as an Expense (E). If the account would not appear on the income statement, write ‘Not on Income Statement (I/S)’ and briefly explain why it would not be included on the income statement: Account title Service revenue Supplies Wages Expense Wages Payable Dividends Sales Revenue Rent Expense Retained Earnings Utilities Expense Accounts Payable
Question 6 The accounts in the ledger of Rapid Delivery Service contain the following balances on...
Question 6 The accounts in the ledger of Rapid Delivery Service contain the following balances on July 31, 2017. Accounts Receivable Accounts Payable $14,900 9,900 Prepaid Insurance Service Revenue Dividends Common Stock $ 3,500 17,400 860 40,200 Cash Equipment Maintenance and Repairs Expense Insurance Expense 59,560 3,858 Salaries and Wages Expense 8,628 740 940 Salaries and Wages Payable Retained Earnings (July 1, 2017) Notes Payable (due 2020) 29,650 6,500 Prepare a trial balance. RAPID DELIVERY SERVICE Trial Balance Debit Credit...
6. Use the following accounts and information to prepare, in good form, an income statement and...
6. Use the following accounts and information to prepare, in good form, an income statement and a retained earnings statement for the month of August and a balance sheet at August 31, 2014 for Pierce Industries. Accounts payable Accounts receivable Buildings Cash Service revenue Common stock $ 1,100 5,400 63,000 18,600 25,700 52,000 Dividends Insurance expense Supplies Notes payable Rent expense Salaries and wages expense $3,000 1,200 1,400 3,300 3,400 12,000 25,900 Retained earnings (beginning) END
I need help with this accouting problem. S1-11 Identifying accounts on the financial statements Consider the...
I need help with this accouting problem.
S1-11 Identifying accounts on the financial statements Consider the following accounts: a. Accounts Payable f. Service Revenue b. Cash g. Office Supplies c. Common Stock h. Dividends d. Accounts Receivable i. Land e. Rent Expense j. Salaries Expense Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Statement of Retained Earnings, B for Balance Sheet, and C for Statement of Cash Flows.
Closing accounts and the accounting cycle Required a. Identify which of the following accounts are temporary will be closed to Retained Earnings at the end of the year) and which are permanent: (1) Other Operating Expenses (2) Utilities Expense (3) Retained Earnings (4) Salaries Expense (5) Land (6) Dividends (7) Service Revenue (8) Cash (9) Salaries Payable (10) Common Stock
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...
5. The following are accounts reported in the financial statements: A. Balance Sheet B. Income Statement C. Statement of Stockholders' Equity Indicate where each of the following accounts is reported in the financial statements using the letters above. (Identify all reports that may apply for each item below.) II. Identify if the account is permanent(P) or temporary (T). Fill in lists below for items I and II Notes Receivable Cash & Cash Equivalents Dividends Accounts Payable Salary Expense Unearned Rent...
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
Question 6 The accounts in the ledger of Rapid Delivery Service contain the following balances on July 31, 2017. Accounts Receivable Accounts Payable $14,900 9,900 Prepaid Insurance Service Revenue Dividends Common Stock $ 3,500 17,400 860 40,200 Cash Equipment Maintenance and Repairs Expense Insurance Expense 59,560 3,858 Salaries and Wages Expense 8,628 740 940 Salaries and Wages Payable Retained Earnings (July 1, 2017) Notes Payable (due 2020) 29,650 6,500 Prepare a trial balance. RAPID DELIVERY SERVICE Trial Balance Debit Credit...
6. Use the following accounts and information to prepare, in good form, an income statement and a retained earnings statement for the month of August and a balance sheet at August 31, 2014 for Pierce Industries. Accounts payable Accounts receivable Buildings Cash Service revenue Common stock $ 1,100 5,400 63,000 18,600 25,700 52,000 Dividends Insurance expense Supplies Notes payable Rent expense Salaries and wages expense $3,000 1,200 1,400 3,300 3,400 12,000 25,900 Retained earnings (beginning) END
I need help with this accouting problem.
S1-11 Identifying accounts on the financial statements Consider the following accounts: a. Accounts Payable f. Service Revenue b. Cash g. Office Supplies c. Common Stock h. Dividends d. Accounts Receivable i. Land e. Rent Expense j. Salaries Expense Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Statement of Retained Earnings, B for Balance Sheet, and C for Statement of Cash Flows.
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