Income Statement Balance Sheet Debit Credit Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Delivery Equipment Accum. Depr.-Delivery Equipment Accounts Payable Wages Payable Owner, Capital Owner, Drawing Delivery Fees Wages Expense Rent Expense Supplies Expense Insurance Expense Depr. Exp.-Delivery Equipment

Income Statement Balance Sheet Debit Credit Debit Credit Cash Accounts Receivable Supplies Prepaid Insurance Delivery Equipment Accum. Depr.-Delivery Equipment Accounts Payable Wages Payable Owner, Capital Owner, Drawing Delivery Fees Wages Expense Rent Expense Supplies Expense Insurance Expense Depr. Exp.-Delivery Equipment

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter4: Balance Sheet: Presenting And Analyzing Resources And Financing

Section: Chapter Questions

Problem 14E

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choose from the following accounts: Accumulated Other Comprehensive Income Allowance for Investment Impairment Bond Investment at Amortized Cost Cash Commission Expense Dividends Receivable Dividend Revenue FV-NI Investments FV-OC|Investments Gain on Disposal of Investments - FV-NI Gain on Disposal of Investments - FV-OCI Gain on Sale of Investments GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Investment in Associate Investment Income or Loss Loss on Discontinued Operations Loss on Disposal of Investments FV-NI Loss on Disposal of Investments FV-OCI Loss on Impairment Loss on Sale of Investments No Entry Note Investment at Amortized Cost Other Investments Recovery of Loss from Impairment Retained Earnings Unrealized Gain or Loss Unrealized Gain or Loss - OCI
Advanced collections from customers prior to the performance obligation being satisfied is accounted as what account? As a deposit reported as an asset on the balance sheet A liability reported on the balance sheet Revenue reported on the income statement Deferred revenue reported as comprehensive income
Define these. a. Return on equityb. Total assets turnoverc. Return on assetsd. Current ratioe. Receivables turnover
Which of the following represents amounts owed for goods, supplies, or services purchased? Group of answer choices customer-related payable accounts payable liability for compensated absences bonds payable
"The following table summarizes the rules of debit and credit. For each of the items A through L, indicate whether the proper answer is a debit or a credit.IncreaseDecrease Normal BalanceBalance sheet accounts:AssetABDebitLiabilityCDebitDStockholders’ equity:Common StockCreditEFRetained EarningsGHCreditDividendsDebitCreditIIncome statement accounts:RevenueJKCreditExpenseLCreditDebit"
9, please answer last part. thanks please pick from the follow accounts: Accumulated Other Comprehensive Income Allowance for Investment Impairment Bond Investment at Amortized Cost Cash Commission Expense Dividends Receivable Dividend Revenue FV-NI Investments FV-OCI Investments Gain on Disposal of Investments - FV-NI Gain on Disposal of Investments - FV-OCI Gain on Sale of Investments GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Investment in Associate Investment Income or Loss Loss on Discontinued Operations Loss on Disposal of Investments FV-NI Loss on Disposal of Investments FV-OCI Loss on Impairment Loss on Sale of Investments No Entry Note Investment at Amortized Cost Other Investments Recovery of Loss from Impairment Retained Earnings Unrealized Gain or Loss Unrealized Gain or Loss - OCI
What to put in the income statement based on this list? InventoryBuildings & ImprovementsAccumulated Depreciation - Buildings & ImprovementsFurniture & FixturesAccumulated Depreciation - Furniture & FixturesOffice EquipmentAccumulated Depreciation - Office EquipmentAccounts PayableLoans PayableAccrued LiabilitiesSalaries PayableEmployee Benefits PayablePaid-Up Share Capital - CommonAdditional Paid in CapitalRetained EarningsSalesFees and Surcharges & FinesOther Income & GainsMiscellaneous IncomeCost of SalesInterest ExpenseOffice Supplies ExpenseTravel and TransportationTaxes and LicensesProfessional FeesRent ExpenseMeeting and ConferencesBad Debts ExpenseDepreciation Expense - B&IDepreciation Expense - FFDepreciation Expense - OEEmployees Benefit ExpenseSalaries & WagesCommunicationMiscellaneous ExpensesIncome Summary
Requirements:A. Prepare a Statement of Financial PositionB. Determine the Net Income
Answer the following question a. Return on equityb. Total assets turnoverc. Return on assetsd. Current ratioe. Receivables turnover
Capitalizing a cost involves increasing what type of account?a. Liabilityb. Expensec. Stockholders’ equityd. Asset
Identify the correct components of the income statement.A. revenues, losses, expenses, and gainsB. assets, liabilities, and owner’s equityC. revenues, expenses, investments by owners, distributions to ownersD. assets, liabilities, and dividends
11, please answer part b, thanks list of accounts Accumulated Other Comprehensive Income Allowance for Investment Impairment Bond Investment at Amortized Cost Cash Commission Expense Dividends Receivable Dividend Revenue FV-NI Investments FV-OCI Investments Gain on Disposal of Investments - FV-NI Gain on Disposal of Investments - FV-OCI Gain on Sale of Investments GST Receivable Interest Expense Interest Income Interest Payable Interest Receivable Investment in Associate Investment Income or Loss Loss on Discontinued Operations Loss on Disposal of Investments FV-NI Loss on Disposal of Investments FV-OCI Loss on Impairment Loss on Sale of Investments No Entry Note Investment at Amortized Cost Other Investments Recovery of Loss from Impairment Retained Earnings Unrealized Gain or Loss Unrealized Gain or Loss - OCI