( Elements of Financial Statements ) Five interrelated elements that are most directly related to measuring the performance and financial status of an enterprise are provided below . Assets Income Liabilities Expenses Equity Instructions: Identify the element or elements associated with the following nine items . a . Obligation to transfer resources arising from a past transaction . b . Increases ownership interest by issuance of shares . c . Declares and pays cash dividends to owners . d . Increases in net assets in a period from non - owner sources . e . Items characterized by service potential or future economic benefit . f . Equals increase in assets less liabilities during the year , after adding distributions to owners and subtracting investments by owners . g . Residual interest in the assets of the enterprise after deducting its liabilities . h . Increases assets during a period through sale of product . i . Decreases assets during the period by purchasing the company's own shares .
E2.5 ( L02 ) ( Elements of Financial Statements ) Five interrelated elements that are most directly related to measuring the performance and financial status of an enterprise are provided below .
Assets
Income
Liabilities
Expenses
Equity
Instructions:
Identify the element or elements associated with the following nine items .
a . Obligation to transfer resources arising from a past transaction .
b . Increases ownership interest by issuance of shares .
c . Declares and pays cash dividends to owners .
d . Increases in net assets in a period from non - owner sources .
e . Items characterized by service potential or future economic benefit .
f . Equals increase in assets less liabilities during the year , after adding distributions to owners and subtracting investments by owners .
g . Residual interest in the assets of the enterprise after deducting its liabilities .
h . Increases assets during a period through sale of product .
i . Decreases assets during the period by purchasing the company's own shares .
![E2.5 (LO2) (Elements of Financial Statements)
related to measuring the performance and financial status of an enterprise are provided below.
Five interrelated elements that are most directly
Assets
Liabilities
Equity
Income
Expenses
Instructions
Identify the element or elements associated with the following nine items.
a. Obligation to transfer resources arising from a past transaction.
b. Increases ownership interest by issuance of shares.
c. Declares and pays cash dividends to owners.
d. Increases in net assets in a period from non-owner sources.
e. Items characterized by service potential or future economic benefit.
f. Equals increase in assets less liabilities during the year, after adding distributions to owners and
subtracting investments by owners.
g. Residual interest in the assets of the enterprise after deducting its liabilities.
h. Increases assets during a period through sale of product.
i. Decreases assets during the period by purchasing the company's own shares.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F866245f8-bcf4-4f98-8fa8-858740660480%2F64ce2666-2e69-4022-921c-bed056853a95%2Fmonlsgo_processed.jpeg&w=3840&q=75)
![](/static/compass_v2/shared-icons/check-mark.png)
Trending now
This is a popular solution!
Step by step
Solved in 2 steps with 1 images
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![FINANCIAL ACCOUNTING](https://compass-isbn-assets.s3.amazonaws.com/isbn_cover_images/9781259964947/9781259964947_smallCoverImage.jpg)
![Accounting](https://www.bartleby.com/isbn_cover_images/9781337272094/9781337272094_smallCoverImage.gif)
![Accounting Information Systems](https://www.bartleby.com/isbn_cover_images/9781337619202/9781337619202_smallCoverImage.gif)
![Horngren's Cost Accounting: A Managerial Emphasis…](https://www.bartleby.com/isbn_cover_images/9780134475585/9780134475585_smallCoverImage.gif)
![Intermediate Accounting](https://www.bartleby.com/isbn_cover_images/9781259722660/9781259722660_smallCoverImage.gif)
![Financial and Managerial Accounting](https://www.bartleby.com/isbn_cover_images/9781259726705/9781259726705_smallCoverImage.gif)