Answered: On which financial statement would the…

On which financial statement would the Supplies account appear? a. Statement of Cash flows b. Income Statement c. Balance Sheet d. Statement of Retained Earnings

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 18MC: On which financial statement would the Supplies account appear? A. Balance Sheet B. Income Statement...

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On which financial statement would the Supplies account appear? a. Statement of Cash flows b. Income Statement c. Balance Sheet d. Statement of Retained Earnings

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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Brief 1-28 Statement of Cash Flows Listed are items that would on a Statement of cash flows. Cash received from customers Cash paid for dividends Cash received from a bank loan Cash paid to suppliers Cash paid to purchase Required: Indicate in which part of the statement of cash flows each of the items would appear: operating activities (O), investing activities (I), or financing activities (F).