Chapter 1, Problem 3AP

1.

To determine

Ascertain the amount of total assets, total liabilities and total stockholders’ equity in the balance sheet of the most recent years of Incorporation B and verify whether the basic accounting equation balances.

2.

To determine

Identify another name of income statement used by Incorporation B.

3.

To determine

Ascertain the amount of net sales and net incomes of recent years of Incorporation B.

4.

To determine

State the largest inflows and outflows under investing activities and financing activities for the most recent year.

5.

To determine

Identify The Company’s auditor and indicate about the amounts reported in the financial statements of the Company.