Which of the following represents a form of communication through financial reporting but not through financial statements? OA Notes to financial statements. OB Statement of financial position. OC Statement of Cash Flows Management Forecasts OD

Which of the following represents a form of communication through financial reporting but not through financial statements? OA Notes to financial statements. OB Statement of financial position. OC Statement of Cash Flows Management Forecasts OD

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 41MC: Which of the following financial statements should be prepared first? A. Balance Sheet B. Income...

See similar textbooks

Related questions

Q: X BED Which of the following pair of journal entries correctly records the current month's activity…

A: Direct wages are paid to labor involved directly in the production of the goods. Indirect labor is…

Q: Kwaku Appiah has been working for a textile manufacturing company for the past 25 years. At his…

A: The following sales receipt and purchase payment schedule is made assuming the sales are evenly…

Q: Wilkins Inc. acquired 100% of the voting common stock of Granger Inc. on January 1, 2021. The book…

Q: A company paid $600,000 for 1-year, 10% bonds with a par value of $600,000 on July 1. The bonds pay…

A: A record is typically kept in the ledger accounts, but it can also be kept in a specific account,…

Q: (a) As the assistant accounting manager for Jefferson Airplane Parts, Inc., construct an income…

A: The horizontal and vertical analysis are performed over the financial statements in order to make…

Q: Follow

A: Adjusting entries are those entries which are passed at the end of the period in order to accurately…

Q: Learning Task 3: Prepare Adjusting Entries in a two-column journal: 1. On June 30, 2018, Mr. De…

A: As per the matching principle, the expenses of a year i.e. accounting period shall be matched with…

Q: As of the end of its accounting period, December 31, Year 1, Great Plains Company has assets of…

A: Assets = Liabilities + Owner's Equity Owner's Equity = Assets - Liabilities Owner's Equity (Year 1)…

Q: Which of the following terms does not refer to the amount that is paid by the note issuer to the…

Q: Juliet Corporation has accumulated the following accounting data for the year: Finished goods…

A: Cost of goods manufactured = ending inventory + cost of goods sold - Beginning inventory

Q: wing information is provided for the first month of operations for Legal Services Inc.: A. The…

A: Explanation of Concept Journal entries: Journal entries are the accounting treatment done in the…

Q: Blossom Company purchased a machine on January 1, 2019, for $792000. At the date of acquisition, the…

A: The question is related to the Chnage in Accounting Estimates. Chnage in Accounting Estimates is…

Q: June 18 Sold and shipped on account to Dante Company, $5,000 ($3,000 cost) of merchandise, with…

A: Journal entries (JF) refers to the entries which are being reported in the original books of…

Q: During Heaton Company's first two years of operations, it reported absorption costing net operating…

A: Under variable costing only variable production cost is consider for ending inventory and total…

Q: SLAC Corp is planning to expand and new projects is expecting to earn an average of P750,000.00…

A: The price of means the total amount return necessary by a corporation to justify beginning on a…

Q: Learning Task #3: Complete the accounting cycle using the adjusted trial balance below. JM…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: 2. Creditable deductible input tax includes the following, except, a. Presumptive, transitional, and…

A: Value-added tax [VAT] is a tax that is charged on each and every stage of the goods and services…

Q: Required information [The following information applies to the questions displayed below.] The…

A: Payroll is the payment that a company is required to pay to its employees for a set period of time…

Q: MONTH June DATE AMOUNT ($) 200 $ $ 350 33,600 30,000 36,000 65 4,200 25,000 85 1,000 320 1,000 1,400…

A: In the context of the given question, we are required to prepare the journal entry. Journal entry:…

Q: Oriole Company is considering a capital investment of $196,000 in additional productive facilities.…

A: Cash flow states the cash inflow and cash outflow of the company. It is represented in the cash flow…

Q: The ending balances of accounts at December 31, 2021, for the Vosburgh Electronics Corporation are…

Q: amortization expense in 2024?

A: The Blue company has bought the trademark from shoes inc. for P300,000 then the amortization cost in…

Q: Financial statements for Crane Company are given below: Crane Company Balance Sheet January 1,…

A: Investing activities in the cash flows includes the receipts and payment of cash to be received or…

Q: How much would be the loss on derecognition to be recogniz

A: To answer this question, firstly we need to calculate the Total Acquisition cost of the Machine:…

Q: Learning Task 3: Prepare Adjusting Entries in a two-column journal: 1. On June 30, 2018, Mr. De…

Q: The partnership has the following accounting amounts: Sales Cost of goods sold Operating expenses…

A: The partnership income or loss is calculated by subtracting the cost of goods sold, operational…

Q: The Village of Shelburne operates a nine-hole golf course as an enterprise fund. You are provided…

A: The amount produced by such an individual or company after deducting costs, allowances, and taxes is…

Q: Accounting as a social science is viewed as information system.

A: Accounting is a social science because it employs a set of knowledge and methods to describe recent…

Q: Accounts Receivable Analysis The following data are taken from the financial statements of Basinger…

A: Accounts receivable: It implies to the money that a customer owed to a business for the goods and…

Q: Why is it critical to have internal controls in place when it comes to managing and handling cash?…

A: Internal controls are the controls that are set to maintain the integrity and make financials as per…

Q: Company Y has the following inventory data: August 1 Beginning inventory 20 units at $10 130 units…

A: Inventory is one of the current asset of the business. It includes inventory of raw materials, work…

Q: The beginning and ending finished goods inventories of the Prize Ring manufacturing company were…

A: Introduction: Costs of goods are the expenses immediately linked to the manufacture of a company's…

Q: Aaron, an individual taxpayer in the 28% tax bracket, acquired stock in AB Corporation 5 years ago…

A: The sale or exchange treatment and dividend treatment are types of transactions under which the…

Q: Sherrod, Inc., reported pretax accounting income of $76 million for 2021. The following information…

A: Every business must be evidenced in at least two places, according to the logic of a journal entry…

Q: Karim Ahmed, a recent graduate of an accounting program, evaluated the operating performance of…

A: Under Incremental analysis only those eliminates will be consider which will effected if division…

Q: with a par value of P 5 per share for P 8 per share. How much is the income tax of the said…

A: Capital gains arises when any Capital assets are transferred and such gains are subject to taxes.…

Q: Date 6. The percent of gross income that is deducted for income tax usually depends on the amount…

Q: Speedy Ironing Services Unadjusted Trial Balance September 30, 2020 Debit P 23,450.00 Cash 2,000.00…

A: After passing the adjustment entries in the books of accounts, the trial balance prepared is known…

Q: What tax remedy is provided by the Tax Code to minimize the impact of indirect double taxation on…

A: Disclaimer: "Since you have asked multiple questions ina single question so we solved first question…

Q: SLAC Corp is planning to expand and new projects is expecting to earn an average of P750,000.00…

A: The price of means the total amount return necessary by a corporation to justify beginning on a…

Q: A trial balance shows a subtotal for current assets and current liabilities. True or False

A: Lets understand basics. Trial balance is prepared after posting. It is as name suggest balance the…

Q: Gizmo Inc. purchased a one-year insurance policy on October 1 for $4,320. The adjusting entry on…

A: Dec.31 Insurance Exp $1080.00 Prepaid Insurance…

Q: For many years, Manama Corporation has used a straightforward absorption costing approach to…

A: Manama Corporation has been following absorption based costing approach. Absorption costing is the…

Q: What would you be ready to spend now for a P1,250 annual return over the following ten years,…

A: The term "discount charge" refers to the interest rate levied by the Treasury Department on…

Q: Assume a company is going to make an investment of $450,000 in a machine and the following are the…

A: Payback period shows the number of years in which the amount invested gets recover. Given that,…

Q: 3. The following are deductions from input taxes, except a. Input tax claimed as tax credit b. Input…

A: Input tax credit is the important component in the goods and service tax because these are claimed…

Q: Cost 5454,000 1,750,000 Retai $500,000 3,450,000 160,000 65,000 49.000 cancellations 10,000…

A: Retail method uses inventory to be shown at retail price which help in computing the cost of ending…

Q: Cash Fumiture and equipment Vehicle Supplies Prepaid Insurance Note Payable Unearned service revenue…

A: Adjusting Entry – Adjusting Entries are the entries that make the accrual principle work for the…

Q: Required information [The following information applies to the questions displayed below.] The…

Q: What are the nonfinancial measures available to MNCs for evaluating foreign subsidiary performance?

A: Nonfinancial measures are the parameters which do not use financial figures for evaluating the…

Question

Give answer within 30 min .... I will give you positive rating immediately.... it's very urgent.... thank you...

sestion 8
Which of the following represents a form of communication through financial reporting but not through financial statements?
OA Notes to financial statements.
OB
Statement of financial position.
Statement of Cash Flows.
Management Forecasts
OC
OD.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

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).
Researching Accounting Standards: Dissenting Views and the Statement of Cash Flows The preparation of cash flow statements is required by generally accepted accounting principles. This accounting standard was initially adopted by a four-to-three vote of the FASB. Several members of the Board took exception to various aspects of the statement including (1) the classification of interest and dividends received and interest paid as cash flows from Operations and (2) the use of the indirect method. Required: Obtain the Statement of Financial Accounting Standards No. 95 (FAS 95) from the FASB website. Go to www.fasb.org, highlight the Standards tab, select Pre-Codification Standards, select Statement of Financial Accounting Standards No. 95, and click on the As Issued link. How did dissenting members of the FASB prefer that interest and dividends received and interest paid be classified? (See the section following paragraph 34 of the full text of Statement No. 95.) How did the FASB justify classifying these items as cash flows from operations? (See paragraph 90 of Statement No. 95.)
Which is the proper order of the sections of the statement of cash flows? A. financing, investing, operating B. operating, investing, financing C. investing, operating, financing D. operating, financing, investing
Classification of Cash Flows A company's statement of cash flows and the accompanying schedule of investing and financing activities not affecting cash may contain the following major sections: a. Operating Activities b. Investing Activities c. Financing Activities d. Investing and Financing Activities not Affecting Cash The following is a list of items that might appear on a company's statement of cash flows or in the accompanying schedule. Required: Using the letters A through D, indicate in which section of the statement of cash flows (or the accompanying schedule) the preceding item would most likely be classified. After each letter, indicate with a plus (+) or a minus () whether the item would be reported on the statement (or the accompanying schedule).
Which of the following financial statements should be prepared first? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash Flows
Which of the following represents a form of communication through financial reporting but not tgh final A) Management Forecasts B) Notes to financial statements C) Statement of Cash Flows D) Statement of financial position
7 1.Describe the link between the Income Statement, Balance Sheet, and Statement of Cash Flows. Explain the purpose of each statement. Provide an example of how a change in one statement affects the other two statements. Which of the three financial statements do you believe is most appropriate for assessing the financial health of an organization? Explain. 2. In your view, what is the most important piece of information reported in the Statement of Cash Flows? Explain.