Question
Reading Business Financial Information 1-Match the following line items to their correct financial statement. Review Later 1-Share capital 2-Retained earnings 3-Rent expense 4-Sale of property,
Reading Business Financial Information
1-Match the following line items to their correct financial statement.
Review Later
1-Share capital
2-Retained earnings
3-Rent expense
4-Sale of property, plant and equipment
2-Match the following definitions to the appropriate terms.
1-Future obligations that a company has agreed to
2-Events that may or may not happen, depending on certain circumstances
3-The total number of shares a company can sell
4-Items of value, which have no physical substance, that are used to generate revenues
A-Intangible assets
B-Commitments
C-Contingencies
D-Authorized shares
3-If a company issues 60,000 shares at $0.25 each but the shares have a par value of $0.20 each, what is the resulting contributed surplus?
Review Later
1-15,000
2-($3,000)
3-$3,000
4-$12,000
4-What line item is not found in the statement of shareholders equity?
Review Later
1-Debt issued or repurchased
2-Dividends paid
3-Shares issued or repurchased
4-Changes in retained earnings
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