TEST BANK FOR Financial Accounting 11th Edition Robert Libby, Patricia Libby, Frank Hodge

Expenses during January incurred, and paid for, during January unless otherwise noted: Salaries $ 10,000 Telephone 500 Office supplies (all used) 300 Electricity 600 Rent on the store for January, 2022 (will not be paid until February, 2022) 2,000 Required:A.Using the above information, prepare the income statement for Frank’s Flower Company for the month ended January 31, 2022. B.What is the amount of cash flows provided by operating activities to be presented on the statement of cash flows?Question Details AACSB : Knowledge Application AICPA : BB Critical Thinking AICPA : FN Measurement Bloom's : Apply Learning Objective : 01-01 Recognize the information conveyed in each of the four basic financial sta Topic : Distinguish different financial statements Type : Static Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Difficulty : 3 Hard Gradable : manual 3) Indicate on which financial statement you would expect to find each of the following. If an item can be found on more than one statement, list each statement. Example: Cash Balance Sheet and Statement of Cash Flows Notes payable ___________blank Salaries expense ___________blank Cost of goods sold ___________blank Sales revenue ___________blank Inventory ___________blank Income tax expense ___________blank Dividends declared ___________blank Retained earnings ___________blank Accounts payable ___________blank Equipment ___________blankQuestion Details AICPA : BB Critical Thinking AICPA : FN Measurement Learning Objective : 01-01 Recognize the information conveyed in each of the four basic financial sta Topic : Distinguish different financial statements Type : Static AACSB : Reflective Thinking Difficulty : 1 Easy Bloom's : Remember Accessibility : Keyboard Navigation Accessibility : Screen Reader Compatible Gradable : manua