Check my workFor each of the Items listed below, identify the approprlate financial statement element.ItemElement1 Obligation to trasfer cash or other resouices as a resut of a past transaction2 Dividends pad try a corporaton to ts shamholdersa nfow of an anset tom providing a good or service4 The financial positon ofa companyAset5 Increase in equity dunng a penod trom nonowner transachons6 increase in equity from perpheral or incidental transactionAssets, liobilities and equityComprehensive income7. Sak of an sset uned in the operations of a businens for ess than the assets book valueB The owners msidual anterest n the asets of a companyAn dom owneod by the company tepresenting probable future bonets10 Revenues plus gains less expenses and ossesDistribution to owners11 n owner's contribution of cash to a corporation in eKchange for ownershp shares of stock12 Outfow of an asset related to the production of revenue

Accounting Statements: Accounting Statements are the closing records of company which has to…

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

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

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 2.6E: Effects of transactions on stockholders’ equity For Target Corporation (TGT), indicate whether the...

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Effects of transactions on stockholders’ equity For Target Corporation (TGT), indicate whether the following transactions would (1) increase, (2) decrease, or (3) have no effect on stockholders’ equity. a. Borrowed money front the bank. b. Paid creditors. c. Made cash sales to customers. d. Purchased store equipment. e. Paid dividends. f. Paid store rent. g. Paid interest expense. h. Sold store equipment at a gain. i. Received interest revenue. j. Paid taxes.
Effects of transactions on stockholders’ equity Indicate whether each of the following types of transactions will (a) increase stockholders’ equity or (b) decrease stockholders’ equity. a. Issued common stock for cash. l. Received cash for fees earned. c. Paid cash for utilities expense. d. Paid cash for rent expense. e. Paid cash dividends.
In which section of the statement of cash flows would each of the following transactions be included? For each, identify the appropriate section of the statement of cash flows as operating (O), investing (I), financing (F), or none (N). (Note: some transactions might involve two sections.) A. collected accounts receivable from customers B. issued common stock for cash C. declared and paid dividends D. paid accounts payable balance E. sold a long-term asset for the same amount as purchased
Quiz 2: Solvency Debt-to-equity ratio Times interest earned ratio Debt service coverage ratio Cash flow from operations to capital expenditures ratio Profitability Return on assets ratio Return on sales ratio Asset turnover ratio Return on common stockholders equity ratio Leverage Earnings per share (EPS) Price/earnings (P/E) ratio Dividend payout ratio Dividend yield ratio A measure of a companys success in earning a return for the common stockholders. The relationship between a companys performance according to the income statement and its performance in the stock market. The ability of a company to remain in business over the long term. A variation of the profit margin ratio; measures earnings before payments to creditors. A companys bottom line stated on a per-share basis. The percentage of earnings paid out as dividends. The ratio of total liabilities to total stockholders equity. A measure of the ability of a company to finance long-term asset acquisitions with cash from operations. A measure of a companys success in earning a return for all providers of capital. The relationship between net sales and average total assets. The relationship between dividends and the market price of a companys stock. The use of borrowed funds and amounts contributed by preferred stockholders to earn an overall return higher than the cost of these funds. An income statement measure of the ability of a company to meet its interest payments. A statement of cash flows measure of the ability of a company to meet its interest and principal payments. How well management is using company resources to earn a return on the funds invested by various groups.
Compare The Home Depot and Lowes Using your answers for The Home Depot, Inc. (HD) in MAD 1-2 and Lowes Companies, Inc. (LOW) in MAD 1-3, compare and interpret Home Depots ratio of liabilities to stockholders equity to that of Lowes.
Identify whether each of the following accounts would be considered a permanent account (yes/no) and which financial statement it would be reported on (Balance Sheet, Income Statement, or Retained Earnings Statement). A. Common Stock B. Dividends C. Dividends Payable D. Equipment E. Income Tax Expense F. Income Tax Payable G. Service Revenue H. Unearned Service Revenue I. Net Income
In which section of the statement of cash flows would each of the following transactions be included? For each, identify the appropriate section of the statement of cash flows as operating (O), investing (I), financing (F), or none (N). (Note: some transactions might involve two sections.) A. borrowed from the bank for business loan B. declared dividends, to be paid next year C. purchased treasury stock D. purchased a two-year insurance policy E. purchased plant assets
On which financial statement would the Dividends account appear? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flows
Provide journal entries to record each of the following transactions. For each, identify whether the transaction represents a source of cash (S), a use of cash (U), or neither (N). A. Paid $22,000 cash on bonds payable. B. Collected $12,600 cash for a note receivable. C. Declared a dividend to shareholders for $16,000, to be paid in the future. D. Paid $26,500 to suppliers for purchases on account. E. Purchased treasury stock for $18,000 cash.
Assume a company has a $350 credit (not cash) sale. How would the transaction appear if the business uses accrual accounting? A. $350 would show up on the balance sheet as a sale. B. $350 would show up on the income statement as a sale. C. $350 would show up on the statement of cash flows as a cash outflow. D. The transaction would not be reported because the cash was not exchanged.
Balance Sheet Accounts and Their Use Choose from the following list of account titles the one that most accurately fits the description of that account or is an example of that account. An account title may be used more than once or not at all. Cash Prepaid Asset Investments Taxes Payable Preferred Stock Accounts Receivable Land Accounts Payable Retained Earnings Notes Receivable Buildings Notes Payable Common Stock ____________________ 1. A written obligation to repay a fixed amount, with interest, at some time in the future ____________________ 2. Twenty acres of land held for speculation ____________________ 3. An amount owed by a customer ____________________ 4. Corporate income taxes owed to the federal government ____________________ 5. Ownership in a company that allows the owner to receive dividends before common shareholders receive any distributions ____________________ 6. Five acres of land used as the site for a factory ____________________ 7. Amounts owed on an open account to a vendor, due in 90 days ____________________ 8. A checking account at a bank ____________________ 9. A warehouse used to store equipment ____________________ 10. Claims by the owners on the undistributed net income of a business ____________________ 11. Rent paid on an office building in advance of use of the facility
Accounting equation The total assets and total liabilities (in millions) of McDonalds Corporation (MCD) and Star-bucks Corporation (SBUX) follow: