Accountancy A. Indicate the financial statement where the following accounts/statement will bepresented. Use the given letter:AA - Statement of Financial PositionBB – Statement of Financial OperationsCC - Statement of Cash FlowDD - Statement of Changes in Equity_1. Cash surrender value of life insurance_6. Share Premium_2. Appropriated Retained Earnings7. Deferred tax liability3. Cash provided by operations8. Gross Revenue_4. Cash repayments of the amounts borrowed9. Taxes and licenses5. Sinking fund10. Deferred revenue

Statement of financial position means where all assets , liabilities and capital is shown. Statement…

Answered: A. Indicate the financial statement…

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter10: Long-term Liabilities

Section: Chapter Questions

Problem 10.12E

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Similar questions

Which of the following financial statements should be prepared first? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flows
In which section of the statement of cash flows would each of the following transactions be included? For each, identify the appropriate section of the statement of cash flows as operating (O), investing (I), financing (F), or none (N). (Note: some transactions might involve two sections.) A. collected accounts receivable from customers B. issued common stock for cash C. declared and paid dividends D. paid accounts payable balance E. sold a long-term asset for the same amount as purchased
Which statement is most directly affected by a change to net income? A. balance sheet B. income statement C. statement of retained earnings D. statement of cash flows
On which financial statement would the Accumulated Depreciation account appear? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flows
Which of the following would be included in the financing section? A. loss on sale of investments B. depreciation expense C. increase in notes receivable D. decrease in notes payable
Classification of Financial Statement Items Classify each of the following items according to (1) whether it belongs on the income statement (IS) or balance sheet (BS) and (2) whether it is a revenue (R), expense (E), asset (A), liability (L), or stockholders equity (SE) item.
Interest payments to creditors are reported in a statement of cash flows as Select one: a. An operating activity b. An investing activity c. A borrowing activity d. A financing activity
Classifying Balance Sheet Accounts Use the letters a to k from the balance sheet classifications provided below to indicate the usual classification for each of the 22 balance sheet items listed below. Also indicate whether an account is a contra account. If the item is not a contra account, select "N/A" as your answer.. Balance Sheet Classification a. Current assets. g. Long-term liabilities. b. Investments. h. Paid-in capital. c. Property, plant, and equipment. i. Retained earnings. d. Intangible assets. j. Accumulated other comprehensive income. e. Other assets. k. Noncontrolling interests. f. Current liabilities. Balance Sheet Item Classification Contra account 1. Accumulated depreciation. Answer Answer 2. Bonds payable (due in 10 years). Answer Answer 3. Accounts payable (trade). Answer Answer 4. Investment in stock of another company (long-term holding). Answer Answer 5. Land (in use). Answer Answer 6.…
(participation expected < You would find asset, liability, and equity accounts on which of the following statements? OA. Statement of cash flows B. Balance sheet OC. Statement of retained earnings OD. Income statement
Identifying Financial Statement Line Items and Accounts Several line items and account titles are listed below. For each, indicate in which of the following financial statement(s) we would 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.) Account (a) Cash asset (b) Expenses (c) Noncash assets (d) Contributed capital (e) Cash outflow for capital expenditures (f) Retained earnings (g) Cash inflow for stock issued (h) Cash outflow for dividends (i) Revenue Financial Statement(s) ◆ + + ♦ ♦ + ◆
Contribution received from shareholders will be recorded as. a. Dr Receivables Cr Cash account b. Dr Capital Cr Cash account c. Dr Cash account Cr Capital d. Dr Cash account Cr receivables
please answer both parts in detail

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