M1-2 Matching Financial Statement Items to Financial Statement CategoriesLO1-1Mark each item in the following list as an asset (A), liability (L), or stockholders' equity (SE) item that would appear onthe balance sheet or a revenue (R) or expense (E) item that would appear on the income statement.(4)(5)Retained earningsAccounts receivableSales revenueProperty, plant, and equipmentCost of goods sold expenseInventoriesInterest expenseAccounts payableLand M1-1 Matching Elements with Financial StatementsLO1-1Match each element with its financial statement by entering the appropriate letter in the space provided.Element(1)(2)(3) Assets(4)Dividends(5) Revenues(6)(7)(8) Cash flow from financing activitiesExpensesCash flow from investing activitiesCash flow from operating activitiesLiabilitiesFinancial StatementA. Balance sheetB. Income statementC. Statement of stockholders' equityD. Statement of cash flows

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Description: M1-2 Matching Financial Statement Items to Financial Statement CategoriesLO1-1Mark each item in the following list as an asset (A), liability (L), or stockholders' equity (SE) item that would appear onthe balance sheet or a revenue (R) or expense (E

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M1-2 Matching Financial Statement Items to Financial Statement Categories LO1-1 Mark each item in the following list as an asset (A), liability (L), or stockholders' equity (SE) item that would appear on the balance sheet or a revenue (R) or expense (E) item that would appear on the income statement. (1) (2) (3) (4) (8) (9) Retained earnings Accounts receivable Sales revenue Property, plant, and equipment Cost of goods sold expense Inventories Interest expense Accounts payable Land

M1-2 Matching Financial Statement Items to Financial Statement Categories LO1-1 Mark each item in the following list as an asset (A), liability (L), or stockholders' equity (SE) item that would appear on the balance sheet or a revenue (R) or expense (E) item that would appear on the income statement. (1) (2) (3) (4) (8) (9) Retained earnings Accounts receivable Sales revenue Property, plant, and equipment Cost of goods sold expense Inventories Interest expense Accounts payable Land

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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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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Question

M1-2 Matching Financial Statement Items to Financial Statement Categories
LO1-1
Mark each item in the following list as an asset (A), liability (L), or stockholders' equity (SE) item that would appear on
the balance sheet or a revenue (R) or expense (E) item that would appear on the income statement.
(4)
(5)
Retained earnings
Accounts receivable
Sales revenue
Property, plant, and equipment
Cost of goods sold expense
Inventories
Interest expense
Accounts payable
Land

M1-1 Matching Elements with Financial Statements
LO1-1
Match each element with its financial statement by entering the appropriate letter in the space provided.
Element
(1)
(2)
(3) Assets
(4)
Dividends
(5) Revenues
(6)
(7)
(8) Cash flow from financing activities
Expenses
Cash flow from investing activities
Cash flow from operating activities
Liabilities
Financial Statement
A. Balance sheet
B. Income statement
C. Statement of stockholders' equity
D. Statement of cash flows

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