income statement measures the results of :- A- total assets . B-owner's equity C- total current liability. E- all of them. F- no one.
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A: Owner’s Equity is nothing but the total amount invested by the owners in the firm subtracted by the…
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A: Owner Withdrawals is a contra-equity account
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A: The balance sheet displays the assets, liabilities and owners' equity of the business.
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Q: Classify each of the following a Liability, or Equity account. a. Store Supplies b. Prepaid Rent c.…
A: Classification of the accounts are as follows :
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- The accounting equation is expressed as ________.A. Assets + Liabilities = Owner’s EquityB. Assets – Noncurrent Assets = LiabilitiesC. Assets = Liabilities + Investments by OwnersD. Assets = Liabilities + Owner’s EquityOwner's equity Select one: a. The resulting amount when total liabilities are subtracted from total assets b. When total liabilities are added to total assets c. None of Them d. The resulting amount when total revenue are subtracted from total cost of salesPlease compute for the following: 1. Total noncurrent assets 2. Total liabilities and shareholders' equity
- Compute for the total current assets, non-current assets, current liabilities, non-current liabilities, and total owner's equityClassify the accounts listed below by matching the account name with one of the following financial statementsections in which the account would be reported:a. Current Assetsb. Fixed Assetsc. Intangible Assetsd. Current Liabilitye. Long-Term Liabilityf. Owners’ Equityg. Revenuesh. Operating Expensesi. Other Income/Expense____ 31. Buildings____ 32. Accumulated Depreciation - Buildings____ 33. Depreciation Expense____ 34. Trademarks____ 35. Amortization Expense____ 36. Repairs Expense____ 37. Land Improvements____ 38. Gain on sale of equipment____ 39. Loss on disposal of asset____ 40. Loss from Impaired GoodwillCompute the following: A. Current Asset B. Non current asset C. Total asset D. Current liabilities E. Non current liabilities F. Total liabilities G. Equity H. Net income I. Total liabilities and equity J. Prepare a Statement of Financial Position
- FINANCIAL STATEMENT ACCOUNTS Label each of the following accounts as an asset (A), liability (L), owners equity (OE), revenue (R), or expense (E). Indicate the financial statement on which the account belongsincome statement (IS), statement of owners equity (SOE), or balance sheet (BS)in a format similar to the following.Identify the correct components of the income statement. A. revenues, losses, expenses, and gains B. assets, liabilities, and owners equity C. revenues, expenses, investments by owners, distributions to owners D. assets, liabilities, and dividendsThe balance sheet lists which of the following? A. assets, liabilities, and owners equity B. revenues, expenses, gains, and losses C. assets, liabilities, and investments by owners D. revenues, expenses, gains, and distributions to owners
- FINANCIAL STATEMENT ACCOUNTS Label each of the following accounts as an asset (A), liability (L), owners equity (OE), revenue (R), or expense (E). Indicate the financial statement on which the account belongsincome statement (IS), statement of owners equity (SOE), or balance sheet (BS)in a format similar to the following.Compute for Net Loss/Income, Capital Ending, Current Assets, Non-current Assets, Current Liability, Non-current LiabilityThe balance sheet lists which of the following?A. assets, liabilities, and owners’ equityB. revenues, expenses, gains, and lossesC. assets, liabilities, and investments by ownersD. revenues, expenses, gains, and distributions to owners