Answered: For each of the following items (A-L)…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

For each of the following items (A-L) indicate on which financial statement you would expect to find it. Some items may appear on more than one statement.

Income Statement
Statement of owners’ equity
Balance sheet
Statement of cash flows

__________ A. Cash, ending balance

__________ B. Sales to customers

__________ C. Accounts receivable

__________ D. Cash received from customers

__________ E. Cost of goods sold during the period

__________ F. Office supplies on hand

__________ G. Office supplies used during the period

__________ H. Ending retained earnings

__________ I. Taxes payable

__________ J. Dividends paid during the period

__________ K. Wages payable

__________ L. Cash paid for merchandise inventory

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