Listed below are several statements that relate to financial accounting and reporting. Identify the accounting concept that applies to each statement.2. Apple Inc. distributes an annual report to its shareholders.

Analyze the effects of a ​Company's transactions on the accounting equation. Included are the following​ headings: Cash, Accounts Receivable​ (A/R), Office Supplies​ (Off. Sup.),​ Canoes; Accounts Payable​ (A/P), Utilities Payable​ (Util. Pay.), Telephone Payable​ (Tele. Pay.), Common Stock​ (CS), Dividends​ (Div.), Canoe Rental Revenue​ (Rent. Rev.), Rent Expense​ (Rent Exp.), Utilities Expense​ (Util. Exp.), Wages Expense​ (Wage Exp.), and Telephone Expense​ (Tele. Exp.).   Nov. 1 Received $16,000 cash to begin the company and issued common stock to Amber and Zack. Nov. 2 Signed a lease for a building and paid $1,200 for the first month's rent. Nov. 3 Purchased canoes for $4,800 on account. Nov. 4 Purchased office supplies on account, $750. Nov. 7 Earned $1,400 cash for rental of canoes. Nov. 13 Paid $1,500 cash for wages. Nov. 15 Paid $50 dividends to stockholders. Nov. 16 Received a bill for $150 for utilities. (Use separate payable account.) Nov. 20 Received a bill for $175 for…

Identify the financial statement on which each of the following accounts would appear:   the income statement, the retained earnings statement, or the balance sheet: a. Insurance Expense b. accounts receivable c. office supplies d. sales revenue e. common stock f. notes payable

Identify the following questions as most likely to be asked by an internal (I) or an external (E) userof accounting information. Should we make a five-year loan to that business?