FINANCIAL ACCOUNTING:TOOLS FOR BUSINESS
FINANCIAL ACCOUNTING:TOOLS FOR BUSINESS
19th Edition
ISBN: 9781119493624
Author: Kimmel
Publisher: WILEY
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Chapter 1, Problem 1.7BE

Indicate which statement you would examine to find each of the following items: income statement (IS), balance sheet (BS), retained earnings statement (RES), or statement of cash flows (SCF).

  1. (a) Revenue during the period.
  2. (b) Supplies on hand at the end of the year.
  3. (c) Cash received from issuing new bonds during the period.
  4. (d) Total debts outstanding at the end of the period.
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Accounts Receivable will appear on which of the following financial statements?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flows
Indicate which statement you would examine to find each of the following items: income statement, balance sheet, retained earnings statement, or statement of cash flows. Revenue during the period. (a) + Supplies on hand at the end of the year. (b) (c) Cash received from issuing new bonds during the period. Total debts outstanding at the end of the period. (d)
Which of the following statements is false? Select one: a. The separation of current debt from long-term debt is done on the date of the balance sheet b. Each year, the amount of long-term debt would increase, as a portion is classified as current debt. c. Current assets include cash, accounts receivable and prepaid insurance. d. Long-term assets include vehicles, computers and furniture.
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