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
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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
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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