Indicate on which financial statement you would expect to find each of the following. If an item can be found on more t
Posted: Sat Aug 07, 2021 7:12 am
Example: Cash Balance Sheet and Statement of Cash Flows
Notes payable ________
Wages expense ________
Cost of goods sold ________
Sales revenue ________
Inventory ________
Income tax expense ________
Dividends declared ________
Retained earnings ________
Accounts payable ________
Equipment ________
Answer:
Cash Balance Sheet and Statement of Cash Flows
Notes payable Balance Sheet
Wages expense Income Statement
Cost of goods sold Income Statement
Sales revenue Income Statement
Inventory Balance Sheet
Income tax expense Income Statement
Dividends declared Statement of Stockholders' Equity
Retained earnings
Balance sheet and Statement of Stockholders'
Equity
Accounts payable Balance Sheet
Equipment Balance Sheet
Difficulty: 1 Easy
Topic: Distinguish different financial statements
Learning Objective: 01-01 Recognize the information conveyed in each of the four basic
financial statements and the way that it is used by different decision makers (investors, creditors,
and managers).
Notes payable ________
Wages expense ________
Cost of goods sold ________
Sales revenue ________
Inventory ________
Income tax expense ________
Dividends declared ________
Retained earnings ________
Accounts payable ________
Equipment ________
Answer:
Cash Balance Sheet and Statement of Cash Flows
Notes payable Balance Sheet
Wages expense Income Statement
Cost of goods sold Income Statement
Sales revenue Income Statement
Inventory Balance Sheet
Income tax expense Income Statement
Dividends declared Statement of Stockholders' Equity
Retained earnings
Balance sheet and Statement of Stockholders'
Equity
Accounts payable Balance Sheet
Equipment Balance Sheet
Difficulty: 1 Easy
Topic: Distinguish different financial statements
Learning Objective: 01-01 Recognize the information conveyed in each of the four basic
financial statements and the way that it is used by different decision makers (investors, creditors,
and managers).