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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Check my work
For each of the Items listed below, identify the approprlate financial statement element.
Item
Element
1 Obligation to trasfer cash or other resouices as a resut of a past transaction
2 Dividends pad try a corporaton to ts shamholders
a nfow of an anset tom providing a good or service
4 The financial positon ofa company
Aset
5 Increase in equity dunng a penod trom nonowner transachons
6 increase in equity from perpheral or incidental transaction
Assets, liobilities and equity
Comprehensive income
7. Sak of an sset uned in the operations of a businens for ess than the assets book value
B The owners msidual anterest n the asets of a company
An dom owneod by the company tepresenting probable future bonets
10 Revenues plus gains less expenses and osses
Distribution to owners
11 n owner's contribution of cash to a corporation in eKchange for ownershp shares of stock
12 Outfow of an asset related to the production of revenue
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