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soldier1979 [14.2K]
2 years ago
3

Several line items and account titles are listed below. For each, indicate in which of the following financial statement(s) we w

ould likely find the item or account: income statement (IS), balance sheet (BS), statement of stockholders' equity (SE), or statement of cash flows (SCF). (Select all that apply.)
a. Cash asset
b. Expenses
c. Noncash assets
d. Contributed capital
e. Cash outflow for capital expenditures
f. R etained earnings i. N et income
g. Cash inflow for stock issued
h. Cash outflow for dividends
Business
1 answer:
myrzilka [38]2 years ago
7 0

Answer:

a. Cash Asset (Balance sheet, Statement of cash flow)

b. Expenses (Income Statement)

c. Noncash Assets (Balance sheet)

d. Contributed capital (Balance Sheet, Statement of stockholder's equity)

e. Cash outflow for capital expenditures (Statement of cash flow)

f. Retained earnings (Balance Sheet, Statement of stockholder's equity)

g. Cash inflow for stock issued (Statement of cash flow, Statement of stockholder's equity)

h. Cash outflow for dividends (Statement of cash flow, Statement of stockholder's equity)

i. Net income (Income statement, Statement of stockholder's equity, Statement of cash flow)

Explanation:

Balance sheet: This provides a statement of liabilities, assets, the business capital at any point in time. Its shows the difference between income and expenditure over a period of time.

Statement of Cash flows: This statement breaks down financial analysis into investing, operating and financing activities.

Statement of Stockholders' Equity: A finance document that is issued by a company as a part of the balance sheet. Also shows any increase or decrease in shareholder's equity for an accounting period.

Income Statement: This is a major financial statement that clearly shows how healthy an organization is performing over an accounting period.

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Match the scenarios to the type of income earned based on the categories of the income approach.
Dmitry [639]

Answer:

1. Compensation of employees

Mos Quito works as an exterminator for Bugs B Dead, Inc

2. Corporate Profits

Noah Count,Inc ., recently paid out dividends to stakeholders.

3. Proprietor's income

Exterminator plus is an owner owned business.

4. Miscellaneous Adjustments

Noah Count Inc collects $2000 in sales taxes every month

5. Net Interest

Bugs B Dead, Inc., pays it's mortgage promptly every month

6. Rental income

Anitha house bought a duplex for a additional income

Explanation:

1) Compensation of employees is the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the employee during an accounting period. In this case Mos Quito is an employee.

2) Corporate profits also called net profit is a measure of financial performance that indicates earnings after expenses and other deductions made.

3) Proprietor's income is the excess of revenue over explicit production cost of owner-operated businesses and includes payments for labor, capital, land and entrepreneurship.

4) Miscellaneous Adjustments is used to make adjustments without having to consider amount limitations.

5) Net interest is the difference between the income a bank earns from interest and the expenses (including interest payments) associated with its liabilities.

6) Rental income is the amount of money collected by a landlord from tenants using a particular space or property

8 0
2 years ago
During July, the cost of goods manufactured at Xxis Corporation was $70,000. The beginning finished goods inventory was $19,000
JulsSmile [24]

Answer:

The cost of goods sold =  $74,000

Explanation:

<em>Cost of goods sold is computed as</em>

<em>Opening stock + production- closing inventory</em>

<em>The figure is always subtracted from the sales revenue to determine the gross profit</em>

The cost of goods of XXis Corporation

Cost of goods sold = 19,000 +  70,000 - 15,000

 = $74,000

The cost of goods sold =  $74,000

5 0
2 years ago
Cosmo has just made his dream come true of buying the property that his restaurant occupies. His excitement is short lived, howe
forsale [732]

Answer:

Realistic aspect

Explanation:

Considering the scenario described in the question it can be concluded that Cosmo shifted his focus onto which REALISTIC aspect of goal-setting theory.

This is because following Cosmo making his dream come true of buying the property that his restaurant occupies, the idea that he could rent out the storefront next to the restaurant for added income is a REALISTIC Aspect of Goal Getting.

This implies that Cosmo is more realistic in terms of his financial abilities and willingness to work toward the goal of paying off the mortgage loan

7 0
2 years ago
Imagine you own a lawn-mowing business. identify the main function of money exhibited in each situation below.
Brut [27]

what type of grass u cuttin

5 0
2 years ago
Becky only eats out at Macaroni Grill and eats out 3 times per month. She receives a raise fro $31,900 to $33,500 and decided to
ololo11 [35]

Answer:

Since elasticity is 6.4, a positive figure,it is normal good and the fact that it is greater than one means it is elastic,hence option A is correct

Explanation:

The formula for income elasticity of demand is given as:

/(new quantity-old quantity)//(old price+new price)/2)/(New income-Old income)/(old income+new income)/2)

New income=$33,000

Old income=$31,900

New quantity =5 times

Old quantity=3 times

Hence=(5-3)/(3+5)/2)/(33500-31900)/(31900+33500)/2)

Elasticity=6.45

6 0
2 years ago
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