Acct 1004s week 6 Study guides, Class notes & Summaries

reporting period balance sheet $9,000 net income $4,000 revenue $1,000 net loss $2,000 expenses $10,000 paid in dividends to shareholders $55,000 paid for monthly employee wages $25,000 received from a bank loan $98,000 received for selling processing equipment gross profit cost of goods sold total expenses net income beginning balance dividends net income ending balance net income revenues asset...

1. Question: Which number is transferred from the income statement to the statement of retained earnings? 2. Question: Which opinion from an independent auditor’s report indicates that no opinion is made due to missing information? 3. Question: A business owner is concerned about the ability of his business to pay its debtsin the next 30 days due to the company’s limited amount of available cash. The business owner is worried aboutthefirm’s ____. 4. Question: A group of investors are co...

1. Question: Which number is transferred from the income statement to the statement of retained earnings? 2. Question: Which opinion from an independent auditor’s report indicates that no opinion is made due to missing information? 3. Question: A business owner is concerned about the ability of his business to pay its debts in the next 30 days due to the company’s limited amount of available cash. The business owner is worried about the firm’s ____ . 4. Question: A group of investors ar...

1. Question: Which information might be specifically included in the notes to the financial statements portion of the annual report? 2. Question: Consider the following scenario: Which of the following would the company delcar on an income statement? 3. Question: You are the accountant for Pacific Paper and preparing the firm’s statement of cash flows. Which of the following would you categorize as cash flows from investing activities? 4. Question: Which number is transferred from the inco...

A Grade Multiple Choice Questions & Answers , A Grade Answers 1. Question: Which information might be specifically included in the notes to the financial statements portion of the annual report? 2. Question: Consider the following scenario: Which of the following would the company delcar on an income statement? 3. Question: You are the accountant for Pacific Paper and preparing the firm’s statement of cash flows. Which of the following would you categorize as cash flows from investing ac...