Accounting 101Questions And Graded Answers.
Retained earnings statement - the financial statement that summarizes the changes in
retained earning for a specific period of time
The company's policy toward dividends and growth could best be determined by examining this
Liabilities - debt and obligations of a business are referred
Net income results when - revenues > expenses
Retained earnings at the end of the period is equal to - retained earnings at the beginning
of the period plus net income minus dividends
Income statement - presents the revenues and expenses for a specific period of time
If the retained earnings account increases from the beginning of the year to the end of the year,
then - net income is greater than dividends
The retained earning statements would not show - revenues and expenses
Which financial statement is prepared first - income statment
Balance sheet shows - assets, liabilities, and stockholders' equity
ALOE
assets
liabilities
, owner's equity
Payments to stockholders are called - dividends
Common stock is reported on the - balance sheet and retained earnings statement
Stockholders' equity is comprised of - common stock and retained earnings
Where will accounts payable show up? - current liabs.
Where will revenue show up? - income or RE statement
Where will inventory show up? - current assets
Where will land show up? - non-current assets
Where will common stock show up? - stockholders' equity
Where will accounts receivable show up? - current assets
Where will investments in real estate show up? - non-current assets
Where will cash show up? - current assets
Where will taxes payable show up? - current liabs
Where will retained earnings show up? - stockholders' equity
Retained earnings statement - the financial statement that summarizes the changes in
retained earning for a specific period of time
The company's policy toward dividends and growth could best be determined by examining this
Liabilities - debt and obligations of a business are referred
Net income results when - revenues > expenses
Retained earnings at the end of the period is equal to - retained earnings at the beginning
of the period plus net income minus dividends
Income statement - presents the revenues and expenses for a specific period of time
If the retained earnings account increases from the beginning of the year to the end of the year,
then - net income is greater than dividends
The retained earning statements would not show - revenues and expenses
Which financial statement is prepared first - income statment
Balance sheet shows - assets, liabilities, and stockholders' equity
ALOE
assets
liabilities
, owner's equity
Payments to stockholders are called - dividends
Common stock is reported on the - balance sheet and retained earnings statement
Stockholders' equity is comprised of - common stock and retained earnings
Where will accounts payable show up? - current liabs.
Where will revenue show up? - income or RE statement
Where will inventory show up? - current assets
Where will land show up? - non-current assets
Where will common stock show up? - stockholders' equity
Where will accounts receivable show up? - current assets
Where will investments in real estate show up? - non-current assets
Where will cash show up? - current assets
Where will taxes payable show up? - current liabs
Where will retained earnings show up? - stockholders' equity
