Question
A,.Which of the following shows how acquiring cash from the issue of common stock will affect a companys financial statements? Balance sheet Income Statement Statement
A,.Which of the following shows how acquiring cash from the issue of common stock will affect a companys financial statements?
| Balance sheet | Income Statement | Statement of Cash Flows | |||||||||
| Assets | = | Liabilities | + | Equity | Rev. | Exp. | = | Net Inc. | |||
| A. | + | = | NA | + | + | NA | NA | = | NA | NA | |
| B. | + | = | NA | + | + | NA | NA | = | NA | + IA | |
| C. | + | = | NA | + | + | NA | NA | = | NA | + FA | |
| D. | + | = | NA | + | + | + | NA | = | + | + FA | |
b. Which of the following shows how borrowing cash from creditors will affect a companys financial statements?
| Balance sheet | Income Statement | Statement of Cash Flows | |||||||||
| Assets | = | Liabilities | + | Equity | Rev. | Exp. | = | Net Inc. | |||
| A. | + | = | + | + | NA | NA | NA | = | NA | + FA | |
| B. | + | = | + | + | NA | NA | + | = | + FA | ||
| C. | + | = | + | + | NA | NA | NA | = | NA | + IA | |
| D. | + | = | NA | + | + | + | NA | = | + | + FA | |
c. Which of the following shows how recognizing cash revenue will affect a companys financial statements?
| Balance sheet | Income Statement | Statement of Cash Flows | |||||||||
| Assets | = | Liabilities | + | Equity | Rev. | Exp. | = | Net Inc. | |||
| A. | + | = | NA | + | + | NA | NA | = | NA | NA | |
| B. | + | = | NA | + | + | + | NA | = | + | NA | |
| C. | + | = | NA | + | + | + | NA | = | + | + OA | |
| D. | + | = | NA | + | + | + | NA | = | + | + IA
| |
d.Which of the following shows how incurring cash expenses will affect a companys financial statements?
| Balance sheet | Income Statement | Statement of Cash Flows | |||||||||
| Assets | = | Liabilities | + | Equity | Rev. | Exp. | = | Net Inc. | |||
| A. | = | NA | + | + | NA | + | = | OA | |||
| B. | = | NA | + | NA | + | = | OA | ||||
| C. | = | NA | + | NA | + | = | + | OA | |||
| D. | = | NA | + | NA | + | = | FA | ||||
e. Which of the following shows how paying a cash dividend will affect a companys financial statements?
| Balance sheet | Income Statement | Statement of Cash Flows | |||||||||
| Assets | = | Liabilities | + | Equity | Rev. | Exp. | = | Net Inc. | |||
| A. | = | NA | + | + | NA | + | = | OA | |||
| B. | = | NA | + | NA | + | = | OA | ||||
| C. | + | = | NA | + | + | NA | NA | = | NA | FA | |
| D. | = | NA | + | NA | NA | = | NA | FA
| |||
f. Which of the following shows how paying cash to reduce long-term liabilities will affect a companys financial statements?
| Balance sheet | Income Statement | Statement of Cash Flows | |||||||||
| Assets | = | Liabilities | + | Equity | Rev. | Exp. | = | Net Inc. | |||
| A. | + | = | + | NA | NA | NA | = | NA | FA | ||
| B. | = | + | NA | NA | NA | = | NA | IA | |||
| C. | = | + | NA | NA | + | = | FA | ||||
| D. | = | + | NA | NA | NA | = | NA | - FA | |||
g. Which of the following shows how paying cash to purchase land will affect a companys financial statements?
| Balance sheet | Income Statement | Statement of Cash Flows | |||||||||
| Assets | = | Liabilities | + | Equity | Rev. | Exp. | = | Net Inc. | |||
| A. | NA | = | NA | + | NA | NA | NA | = | NA | IA | |
| B. | NA | = | NA | + | NA | NA | NA | = | NA | FA | |
| C. | NA | = | NA | + | NA | NA | + | = | OA | ||
| D. | = | + | NA | NA | NA | = | NA | - FA | |||
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Item 9
Item 9 Part 9 of 9 10 points
Watt Company experienced an event that had the following effects on its financial statements.
| Balance sheet | Income Statement | Statement of Cash Flows | ||||||||
| Assets | = | Liabilities | + | Equity | Rev. | Exp. | = | Net Inc. | ||
| NA | NA | NA | NA | FA | ||||||
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
978-0077398194
