Check my workFor each of the Items listed below, identify the approprlate financial statement element.ItemElement1 Obligation to trasfer cash or other resouices as a resut of a past transaction2 Dividends pad try a corporaton to ts shamholdersa nfow of an anset tom providing a good or service4 The financial positon ofa companyAset5 Increase in equity dunng a penod trom nonowner transachons6 increase in equity from perpheral or incidental transactionAssets, liobilities and equityComprehensive income7. Sak of an sset uned in the operations of a businens for ess than the assets book valueB The owners msidual anterest n the asets of a companyAn dom owneod by the company tepresenting probable future bonets10 Revenues plus gains less expenses and ossesDistribution to owners11 n owner's contribution of cash to a corporation in eKchange for ownershp shares of stock12 Outfow of an asset related to the production of revenue

Accounting Statements: Accounting Statements are the closing records of company which has to…

For each of the items listed below, identify the appropriate financial statement element Item Element 1 Obligaton to traster cash or other tesouices as a resut of a past tansaction 2 Dividends pad by a corporatn to s shaholders 3 nfow of an aset bom poviding a good or service 4 The financial pouton of a company 5 Increase in equty dunga perod tiom nonowner transachons 6 increase in equity from perpheral or incidental transaction Aset Aspets, liobilities and equty Comprehensive income 7 Sake of an asset used in the operations of a busness for ess than the assets book value Distribution to owners BThe owners msidusl nterest in the assets of a company An dem owned by the company tepresenting probable future bonetts 10 Revenues plus gains less expenses and losses 11 An owner's contibution of cash to a corpoation in exchange for ownershp shares of stock 12 Outfow of an asset related to the production of revenue

For each of the items listed below, identify the appropriate financial statement element Item Element 1 Obligaton to traster cash or other tesouices as a resut of a past tansaction 2 Dividends pad by a corporatn to s shaholders 3 nfow of an aset bom poviding a good or service 4 The financial pouton of a company 5 Increase in equty dunga perod tiom nonowner transachons 6 increase in equity from perpheral or incidental transaction Aset Aspets, liobilities and equty Comprehensive income 7 Sake of an asset used in the operations of a busness for ess than the assets book value Distribution to owners BThe owners msidusl nterest in the assets of a company An dem owned by the company tepresenting probable future bonetts 10 Revenues plus gains less expenses and losses 11 An owner's contibution of cash to a corpoation in exchange for ownershp shares of stock 12 Outfow of an asset related to the production of revenue

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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