Question 12 of 20: Select the best answer for the question 12. Financial statements report financial data for either a period of time or for a particular date. Which of the following financial statements reports financial information for a particular date. OA. Both the balance sheet and the income statement OB. The cash flow statement OC. The income statement OD. The balance sheet Mark for review (Will be highlighted on the review page) Next Question >>
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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 flowsOn which financial statement would the ending balance of the account “accounts receivable” be found?a. Income statementb. Statement of retained earningsc. Balance sheetd. Statement of cash flowsThe income statement is drawn up from the figures in the _________________ Select one: a. Accounts Receivable ledger b. Accounts payable ledger c. Trial Balance d. Cash Flow Statement
- Which of the following financial statements should be prepared first? A. Balance Sheet B. Income Statement C. Retained Earnings Statement D. Statement of Cash FlowsMatch the words to the definitions. Solvency Accounts Receivable Balance Sheet Noncurrent Assets Income Statement Retained Earnings Noncurrent Liabilities. Liquidity Current Assets Cash Flow Statement ✓ [Choose ] A forecast of the amount and timing of future cash inflows and outflows over some period of time. A summary of the revenues and expenses of a business over a given period of time. When net worth is greater than zero, or assets are greater than liabilities on the balance sheet. The ability to meet the day-to-day cash needs of the firm. Profits that are not paid out in dividends but are reinvested in the firm itself. Summarizes a firm's financial position at a given point in time and lists the firm's assets, liabilities, and net worth. Debts that others owe the business, usually arising from previous credit sales. Something the firms owns or uses that will not turn into cash within the next accounting period. Either cash or an items that will become cash in the next accounting…Identifying Financial Statement Line Items and Accounts Several line items and account titles are listed below. For each, indicate in which of the following financial statement(s) we would likely find the item or account: income statement (IS), balance sheet (BS), statement of stockholders' equity (SE), or statement of cash flows (SCF). (Select all that apply.) Account (a) Cash asset (b) Expenses (c) Noncash assets (d) Contributed capital (e) Cash outflow for capital expenditures (f) Retained earnings (g) Cash inflow for stock issued (h) Cash outflow for dividends (i) Revenue Financial Statement(s) ◆ + + ♦ ♦ + ◆
- Required: Prepare a Balance sheet in good form (always start with the top row in each section) Put into these categories: Current Assets, Long-Term Investments, PPE, Intangible Assets, Current Liabilities, Long-Term Liabilities, and Stockholders Equity. Also label as debit or credit. The Correct total amount for each category is at the top.Use the following information from XYZ Company's balance sheet to answer the next six questions: Assets a. b. c. d. a. b. 30. C. d. Cash........ Marketable Securities Accounts Receivable Inventory........ Property and Equipment. Accumulated Depreciation. Total Assets a. b. c. d. Liabilities and Stockholders' Equity Accounts Payable. Notes Payable (current). Mortgage Payable (long-term). Bonds Payable (long-term). Common Stock, $50 Par.. The average number of common stock shares outstanding during the year was 840 shares. Net earnings for the year were $6,300. 25. XYZ's current ratio is 6.0 to 1. 5.5 to 1. 26. XYZ's quick (acid-test) ratio is 4.0 to 1. 4.5 to 1. 3.5 to 1. 3.0 to 1. Paid-in Capital in Excess of Par......... Retained Earnings............ Total Liabilities, and Stockholders' Equity 4.0 to 1. 4.5 to 1. ***** 27. XYZ's earnings per share is $7.50 per share. $7.00 per share. $0.13 per share. $6,300 per share. 28. XYZ's return on assets is a. 6.9% b. 7.9% C. 14.6% d. 23.4% 29.…Which of the following fi nancial statements is generallyprepared fi rst?a. Income statement.b. Balance sheet.c. Statement of retained earnings.d. Statement of cash fl ows.
- 10. Match the account headings to the relevant headings of the balance sheet where they will be reflected. 1. tax payable 2. inventory 3. goodwill 4. retained earnings P Type here to search NHorizontal analysis is a technique for evaluating financial statement dataa. for one period of timeb. over a period of timec. on a certain dated. as it may appear in the futureWhat data flows from the statement of retained earnings to the balance sheet?a. Net incomeb. Cashc. Ending retained earningsd. Assets