Please tell if the following are Assets, liabilities, or equity 1) accounts receivable 2) Smith, capital 3) Wages payable 4) Cash 5) Inventory 6) Taxes payable ( Also what are taxes payable and what account are they under and do they have a DR or CR balance?) 7) Additional paid-in capital 8) Retained earnings 9) Buildings 10) Land

Q: Name the specific third party that the company owes for each of the following liabilities. A. Sales…

A: here's a more detailed explanation for each liability: A. Sales tax payable: This liability…

Q: Which of the following should be classified as financial instrument? Inventories C. Patents B.…

A: IAS 32 defines financial instrument as a "  contract that gives rise to a financial asset of one…

Q: The following are classified as current liabilities on the balance sheet: Inventory, Short-term…

A: Current liabilities are a company's debts or obligations that are due within one year, appearing on…

Q: What is owner Capital listed as a debit or credit

A: Solution: Owner capital is the amount of capital invested in business by owner. This is shown as…

Q: Indicate how the accounts normally should be categorized on a classified balance sheet. Also…

A: The balance sheet is one of the important financial statements of the business. It tells about the…

Q: The assumption that requires that only those things that can be expressed in money are included in…

A: The generally  accepted principles of accounting are called concepts.The concept guide the…

Q: Which of the following accounts is increased by a debit? Common Stock   Accounts Payable…

A: Common Stock - It is the share capital of a company in the form of shares held by shareholders,…

Q: In which account, how do businesses keep track of their profits arising from the sale of tangible…

A: In a business, a situation arises when the firm has to sell its assets due to various reason. On…

Q: The factor payment for the use of financial capital (loans and equity investments) is called...…

A: The cost of finance: Equity and debt are two sources of capital for any business.  Investors who…

Q: The Balance-Sheet identity is (circle ALL that apply. Think of different ways to present this…

A: Balance-sheet is one of the most important financial indicators and essential financial statement…

Q: Which of the following are reported on the income statement? Check all that apply. Dividends Revenue…

A: Income statement is a financial statement that shows profitability, total revenue and total…

Q: Which of the following is (are) deducted from EBIT to determine net income? A. Earnings per share B.…

A: Lets understand the basics.EBIT is abbreviation of "Earning before interest and tax". Net income is…

Q: Please tell me what statement or statments the following appears on DEPRECIATION EXPENSE   Income…

A: The income statement is drawn to show all the revenues earned and expenses incurred during the…

Q: What is the point of included non-cash entries such as accruals and depreciation in a financial…

A: Lets understand the basics. Adjusting entry is required to make to record correct amount of revenue…

Q: state what financial statement or statments the following accounts are found on 1) Income Statement…

A: Financial Statement Financial statement are refer as the statement which tells the financial…

Q: Revenues and expenses must be recorded in the accounting period in which they were earned or…

A: The income and expenses are recorded in the income statement to estimate the profitability of the…

Q: Which of the following is NOT included in the financial assets? A. Cash. B. Investments in…

A: The financial assets include the liquid assets of the business.

Q: Which of the following is business income for NOL purposes?    Interest earned on savings account.…

A: If your deductions for the year are more than your income for the year, you may have a net operating…

Q: Which of the following contains only accounts found on the balance sheet? Cash, notes payable, gross…

A: The question is multiple choice question.The question is related to only accouts found on the…

Q: HOMEWORK Please tell me if the following are found Assets, Liabilities, Equity, Revenue, or Expense…

A: Type of accounts:

Q: Identify the term being referred to: The percentage of dividends to earnings after taxes.

A: Answer -  Formula for Dividend Payout Ratio = Total Dividend / Earnings after tax *100. The dividend…

Q: Required information Use the following information for the Exercises 6-8 below. (Algo) [The…

A: On May 5 th, Cost of goods sold = $5000

Q: What is total assets on this company's balance sheet?         What is total current liabilities…

A: Let's tackle each question one by one.Total Assets on the Company's Balance SheetTotal Assets are…

Q: The return on assets is calculated by Oa. dividing net income before taxes and interest expense by…

A: The ratio analysis helps to analyse the financial statements of the business on the basis of various…

Q: The monetary value of the net assets is reported at its historical cost on the balance sheet? a.…

A: Physical capital is represented by the capital utilized for acquiring tangible fixed assets or…

Q: In which of the following types of accounts are increases recorded by credits?   Question 8 options:…

A:

Q: Could I get the entire answer please? Earnings before taxes, net income and taxes?

A: Information Provided: Sales = $14,800,000 Interest expense = $307,000 COGS (Cost of Goods Sold) =…

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