The changes in the _______ are reported in the statement of changes in owner's equity.         cash in bank account         owner's capital account         liability accounts         asset accounts

Q: How would I figure out the adjusted trial balance sheet?  cash accounts receivable  equipment  etc

A: Explanation: The Ending Balances of all T-Accounts Transfer to Adjusted Trial Balance.

Q: Describe how debits and credits affect assets, liabilities, and permanent owners’ equity accounts.

A: Asset: Assets refer to the resources owned by the business, which are utilized in the course of the…

Q: A journal entry for cash dividends is not made on the ________. A. date of record. B. An entry is…

A: Solution: Cash dividend liability is booked on declaration date by debiting dividends and crediting…

Q: Does a payment on a liability account with cash show up in the statement of cash flows?

A: Cash Flow Statement - Under Cash Flow there are three type activities involved - Operating…

Q: Which of the following is included under the financing activities in O Payment of salaries to…

A: Solution: Financing activities are those activities which includes transactions related to sources…

Q: Which of the following is not a current asset? Inventory Trade receivables Building Cash at bank

A: Current Assets- are assets that can be converted into cash within one operating cycle i.e.,  assets…

Q: Which financial statement is dated at the moment in time when the accounting period ends? Statement…

A:

Q: Revenue and Expense Accounts Are revenue and expense accounts equal to equity in how cash is a part…

A: Revenue: Revenues are earnings of business by sale of goods and services in business. It is earned…

Q: Accounts receivable are long term assets for the business Select one: True False

A: Long term assets are generally referred to as the non current assets of the business which takes…

Q: The owner's contributions and withdrawals are reported on the income statement. True. False.

A: The income statement is a part of the financial statement. It includes all the revenue and expenses.…

Q: Explain the difference between how you would characterize bank deposits and loans as assets and…

A: Balance sheet: This financial statement reports a company’s resources (assets) and claims of…

Q: Monetary assets include cash, accounts receivable and inventory. O accounts receivable and property,…

A: A monetary assets are those assets  which  can easily  converted  into Fixed or determinable units…

Q: What happens when business revenues are added or placed in the personal cash accounts of the owner?

A: The owner of a business may add business revenues to their personal cash accounts for a number of…

Q: When an owner of a proprietary business withdraws cash from their personal account to pay for…

A: In proprietary business the owner and business are treated as same. They are not the separate legal…

Q: What is credit history? A record of a person's borrowing and repayment activity used to calculate…

A: Credit history checks if the borrower has been responsible with the debt payments or not. It checks…

Q: Question: In accounting, what does the term "accrual" refer to? a) The recognition of revenue or…

A: The accounting records the transactions using different methods as cash basis accounting or accrual…

Q: From a bank's viewpoint, a customer's account in the bank is considered a: a.donation. b.liability.…

A: Bank statement: This is a periodic or monthly statement issued by bank reporting the account summary…

Q: On which one of the following dates are dividend checks mailed? A. Declaration date B.Ex-dividend…

A: Option Explanation A Date on which dividend is declared. B Date on which dividend is already…

Q: what accounts are permanent accounts on the balance sheet

A: Balance sheet(B/S): It is one among the financial statements. It consists of assets,  equity and…

Q: balance sheet lists v

A: First option is wrong because revenues, expenses, gains and distributions to owners are listed in…

Q: Describe how debits and credits affect temporary owners’ equity accounts.

A: Accounting follows the double-entry bookkeeping system. The basic rules of double-entry bookkeeping…

Q: state what financial statement or statments the following accounts are found on 1) Income Statement…

A: Financial Statement Financial statement are refer as the statement which tells the financial…

Q: A statement of retained earnings shows:     The changes in the Cash account occurring during the…

A: Following is the answer to the given question

Q: does accounts payable and cash count towards ending retained earnings

A: Closing entries are the entries which are prepared to close all the temporary accounts and then the…

Q: Revenues and expenses must be recorded in the accounting period in which they were earned or…

A: The income and expenses are recorded in the income statement to estimate the profitability of the…

Q: True (t) or False (f) ______ Certificates of deposit are usually classified as cash on the balance…

A: A certificate of deposit (CD) is referred as a savings account that holds a fixed amount of money…

Q: How can money be deposited into a Spruce account? Tax refund. Direct deposit. Linked bank…

A: Several options have been given to fund the Spruce Account. We have to find the correct answer.

Q: Which adjustments need to be recorded in the accounting records? Those that affected the bank…

A: Introduction: All the paperwork and books used to create financial statements or records necessary…

Q: What is the account used to record amounts withdrawn for personal use (not for business use) by an…

A: revenue: Revenue is used for recording the earnings of the business. capital: Capital is the…

Q: Which of the following is an example of a deferral? O Interest earned on a bank account O A…

A: The deferred revenue and expenditures are the amount of revenue and expenses that would be recorded…

Q: HOMEWORK Please tell me if the following are found Assets, Liabilities, Equity, Revenue, or Expense…

A: Type of accounts:

Q: is a financial product that allows an individual to lend their money to a bank A and be paid an…

A: A savings account is a financial product that allows an individual to lend their money to a bank and…

Q: Which of the following items is not classified as an asset?  Accounts receivable Accounts payable…

A: Assets: a. Based on convertibility  :  current assets , Non current assets . b. Based on physical…

Q: Explain how bills of endorsement work. Are they classified as Off-Balance-Sheet (OBS) assets or OBS…

A: An endorsement of bill is defined as the procedure through the bill holder or maker for bill…

Q: itle What particular item of financial or operating data appears on both the income statement and…

A: Income Statement: It is a part of the books of a company and is a most important element because it…

Q: Amount of money borrowed or invested on the origin date.

A: Initial Investment - Owner of the organization either borrowed money or invested their own fund to…

Q: What is the owner’s right to the assets (claims to the assets) of the business called? Group of…

A: Solution: As per basic accounting equation: Assets = Liabilities + Owner's equity Therefore Lenders…

Q: ovide example of accounting treatment for transactions related to loan in two situations as…

A: Loan : It is the amount which is borrowed by the individual to fulfil his/her needs. When amount…