Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

For each of the following accounts/descriptions, indicate where in the financial statements the item wil go. If an item goes in more than one place,

image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
For each of the following accounts/descriptions, indicate where in the financial statements the item wil go. If an item goes in more than one place, you just need to give one of the correct answers, you cannot check multiple answers. Cumulative effect on net income from change in accounting principle Income Statement-above the subtotal for Net Operating Income Income Statement-part of the Other Income (Expense) section Income Statement part of Discontinued Operations Statement of Retained Earnings-prior to Opening Balance, as adjunted Statement of Retained Earnings, after Opening Balance, as adjusted Statement of Cash Flows-Operating Activities Indirect Method) Statement of Cash Flows-Investing Activities Statement of Cash Flows-Financing Activities For each of the following accounts descriptions, indicate where in the financial statements the item wil go. If an itom goes in more than one place, you just need to give one of the correct answers, you cannot check multiple answers. Dividends paid Income Statement-above the subtotal for Net Operating Income Income Statement part of the Other Income (Expense) section Income Statement part of Discontinued Operations Statement of Retained Earnings prior to Opening Balance, as adjusted Statement of Retained Earnings, after Opening Balance, as adjusted Statement of Cash Flows-Operating Activities (Indirect Method) Statement of Cash Flows-investing Activities Statement of Cash Flows-Financing Activities For each of the fofowing counts/descriptions, indicate where in the financial statements the tem will go. If an tom goed in more than one place, you just need to give one of the correct answers, you cannot check multiple answers Increase in Accounts Payable Income Statement-above the subtotal for Net Operating Income Income Statement part of the Other Income (Expense) section Income Statement part of Discontinued Operations Statement of Retained Earnings prior to Opening Balance, as adjusted Statement of Retained Camings, after Opening Balance, as adjusted Statement of Cash Flows-Operating Activities (Indirect Method Statement of Cash Flows-Investing Activities Statement of Cash Firs For each of the following accounts/descriptions, indicate where in the financial statements the item will go. If an itern goos in more than one place you just need to give one of the correct answers, you cannot check multiple answers. Proceeds from sale of land Income Statement-above the subtotal for Net Operating Income Income Statement-part of the Other Income (Expense) section Income Statement part of Discontinued Operations Statement of Retained Earnings-prior to Opening Balance as adjusted Statement of Retained Earnings after Opening Balance, as adjusted Statement of Cash Flows-Operating Activities (Indirect Method Statement of Cash Flows-Investing Activities Statement of Cash Flows Financing Activities

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Financial Accounting And Reporting

Authors: Ciaran Connolly

2nd Edition

0903854724, 978-0903854726

More Books

Students also viewed these Accounting questions