Which of the following shows how purchasing supplies for cash will affect a company's financial statements at the date of purchase? A. B. C. D. Assets = - + + + + - Multiple Choice Balance Sheet Liabilities + n/a Option C Option D Option A Option B + n/a n/a Stockholders' Equity n/a n/a n/a Revenue n/a n/a n/a n/a Income Statement Expense = Net Income n/a n/a + + n/a n/a Statement of Cash Flows -Investing Activity n/a -Operating Activity -Operating Activity

Which of the following shows how purchasing supplies for cash will affect a company's financial statements at the date of purchase? A. B. C. D. Assets = - + + + + - Multiple Choice Balance Sheet Liabilities + n/a Option C Option D Option A Option B + n/a n/a Stockholders' Equity n/a n/a n/a Revenue n/a n/a n/a n/a Income Statement Expense = Net Income n/a n/a + + n/a n/a Statement of Cash Flows -Investing Activity n/a -Operating Activity -Operating Activity

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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Which of the following shows how paying cash to purchase supplies will affect a company's financial statements? Multiple Choice Assets = Liabilities + Assets Assets +/- Balance Sheet Assets +/- ΝΑ Balance Sheet = Liabilities + ΝΑ Balance Sheet = Liabilities + ΝΑ Balance Sheet = Liabilities + ΝΑ Stockholders' Equity Stockholders' Equity Stockholders' Equity ΝΑ Stockholders' Equity ΝΑ Revenue ΝΑ Revenue ΝΑ Revenue ΝΑ Revenue ΝΑ Income Statement Expense = Net Income ΝΑ Income Statement Expense = Net Income + Income Statement ΝΑ Expense = Net Income ΝΑ Income Statement ΝΑ Expense = Net Income ΝΑ ΝΑ Statement of Cash Flows -Operating Activity Statement of Cash Flows ΝΑ Statement of Cash Flows -Operating Activity Statement of Cash Flows ΝΑ
am. 104.
Financial statements of Rukavina Corporation follow: Comparative Balance Sheet Assets: Cash and cash equivalents Accounts receivable Inventory Property, plant, and equipment Less accumulated depreciation Total assets Liabilities and stockholders' equity: Accounts payable Bonds payable Common stock Retained earnings Total liabilities and stockholders' equity Income Statement Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income Income taxes Net income $ 560 392 BERSA 168 112 $ 39 Ending Beginning Balance Balance $ 30 51 42 426 213 $336 $ 83 216 85 (48) $ 336 $ 35 56 43 400 200 $ 334 $ 69 260 84 (79) $ 334 Cash dividends were $8. The company did not dispose of any property, plant, and equipment. It did not issue any bonds payable or repurchase any of its own common stock. The following questions pertain to the company's statement of cash flows. The net cash provided by (used in) operating activities for the year was:
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H1.
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