Account Number (1) (2) (3) (4) (5) (6) (7) (8) Account Title Cash Service Revenue Accounts Receivable Salaries Expense Dividends Common Stock Salaries Payable Retained Earnings Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that appear on that particular financial statement.) Multiple Choice Account numbers 2, 4, and 5 will appear on the income statement. Account numbers 4, 5, and 6 will appear on the statement of changes in stockholders' equity. Account numbers 1, 3, and 8 will appear on the balance sheet. Account numbers 2, 5, and 8 will appear on the statement of cash flows.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question

#16

Account
Number
(1)
(2)
(3)
(4)
(5)
(6)
Account Title
Cash
Service Revenue
Accounts Receivable
Salaries Expense
Dividends
Common Stock
Salaries Payable
(8)
Retained Earnings
Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that appear on that particular financial statement.)
Multiple Choice
Account numbers 2, 4, and 5 will appear on the income statement.
Account numbers 4, 5, and 6 will appear on the statement of changes in stockholders' equity.
Account numbers 1, 3, and 8 will appear on the balance sheet.
Account numbers 2, 5, and 8 will appear on the statement of cash flows.
Transcribed Image Text:Account Number (1) (2) (3) (4) (5) (6) Account Title Cash Service Revenue Accounts Receivable Salaries Expense Dividends Common Stock Salaries Payable (8) Retained Earnings Which of the following is a true statement? (Note: A statement may be true even if it does not identify all accounts that appear on that particular financial statement.) Multiple Choice Account numbers 2, 4, and 5 will appear on the income statement. Account numbers 4, 5, and 6 will appear on the statement of changes in stockholders' equity. Account numbers 1, 3, and 8 will appear on the balance sheet. Account numbers 2, 5, and 8 will appear on the statement of cash flows.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Double entry bookkeeping system
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education