Question

1. The financial statement that reports the revenues and expenses for a period of time such...

  • 1.

    The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the

    Balance Sheet

    Income Statement

    Statement Of Cash Flows

  • 2.

    The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a specific date is the

    Balance Sheet

    Income Statement

    Statement Of Cash Flows

  • 3.

    Under the accrual basis of accounting, revenues are reported in the accounting period when the

    Cash Is Received

    Service Or Goods Have Been Delivered

  • 4.

    Under the accrual basis of accounting, expenses are reported in the accounting period when the

    Cash Is Paid

    Expense Matches The Revenues Or Is Used Up

  • 5. Revenues minus expenses equals

    __________

    .

Homework Answers

Answer #1
1
The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the Income Statement
2
The financial statement that reports the assets, liabilities, and stockholders' (owner's) equity at a specific date is the Balance Sheet
3
Under the accrual basis of accounting, revenues are reported in the accounting period when the Service Or Goods Have Been Delivered
4
Under the accrual basis of accounting, expenses are reported in the accounting period when the Expense Matches The Revenues Or Is Used Up
5
Revenues minus expenses equals Net income (loss)
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. The financial statement that reports the revenue and expense for a period of time such...
1. The financial statement that reports the revenue and expense for a period of time such as year or month : Balance sheet Income statement Statement of cash flows 2. The financial statement that reports asset liability and equity at a specific date : Balance sheet Income statement Statement of cash flows 3. Assets are usually reported on the balance sheet at which amount? Cost Current market value Expected selling price 4. Obligation are reported on the balance sheet are...
Matchthedefinitionswiththeproperfinancialstatement: A The Statement of Assets, Liabilities and Owner's Equity B The Statement of Revenues and...
Matchthedefinitionswiththeproperfinancialstatement: A The Statement of Assets, Liabilities and Owner's Equity B The Statement of Revenues and Expenses C The Statement of Sources and Use of Owner's Equity Income Statement Balance Sheet Statement of change in Financial Position Which two of the above statements reports data for a period of time as opposed to / specific date in time?
1 Identify the correct components of the income statement. revenues, losses, expenses, and gains assets, liabilities,...
1 Identify the correct components of the income statement. revenues, losses, expenses, and gains assets, liabilities, and owner’s equity revenues, expenses, investments by owners, distributions to owners assets, liabilities, and dividends 2. The balance sheet lists which of the following? assets, liabilities, and owners’ equity revenues, expenses, gains, and losses assets, liabilities, and investments by owners revenues, expenses, gains, and distributions to owners 3.  The accounting equation is expressed as ________. Assets + Liabilities = Owner’s Equity Assets – Noncurrent Assets...
Which of the following is not to be extended to the statement of financial position columns...
Which of the following is not to be extended to the statement of financial position columns of the worksheet?                Select one: a. Accumulated Depreciation          b. Unearned Income c. Expired insurance premium d. Unused Supplies Which of the following is not an element in the computation of estimated depreciation expense? Select one: a. unpaid balance of the acquisition cost b. Acquisition cost                                c. Estimated useful life       d. Scrap value at the end of the useful life Using the liability method, the...
Problem 1: Financial Statement Articulation              Consider the effects of the independent transactions, a through...
Problem 1: Financial Statement Articulation              Consider the effects of the independent transactions, a through d, on a company’s balance sheet, income statement, statement of cash flows, and statement of stockholders’ equity. Services were performed for cash. Inventory was purchased for cash. Wages were accrued at the end of the period. Rent was paid in cash. Complete the table below to explain the effects and financial statement linkages. Use “+” to indicate the account increases and “–” to indicate...
17.       Which financial statement displays the revenues and expenses of a company for a period of...
17.       Which financial statement displays the revenues and expenses of a company for a period of time? Cash Flow Statement Statement of Profit or Loss Statement of Financial Position Statement of Shareholder’s Equity 18.       Accounting is the information system that___________ Measures business activity Communicate the results to decision makers Processes data into reports All of the above                                        19.      Which of the following should not be called ‘Sales’? Office fixtures sold Goods sold on credit Goods sold for cash Sale...
1. Which of the following asset accounts is increased when a receivable is collected? Group of...
1. Which of the following asset accounts is increased when a receivable is collected? Group of answer choices Accounts Receivable Supplies Accounts Payable Cash 2. Computer Corporation is starting its computer programming business and has sold stock of $15,000.  Identify how the accounting equation will be affected. Group of answer choices increase in assets (Cash) and increase in liabilities (Accounts Payable) increase in assets (Cash) and increase in stockholders' equity (Common Stock) increase in assets (Accounts Receivable) and decrease in liabilities...
43. Which financial statement shows the results of. business operations - that is the revenues (sales)...
43. Which financial statement shows the results of. business operations - that is the revenues (sales) generated and the expenses incurred - during a specifies time period? A Income statement B balance sheet C statement of retained earnings D statement of cash flows
1. If the assets of a business increased $89,000 during a period of time and its...
1. If the assets of a business increased $89,000 during a period of time and its liabilities increased $67,000 during the same period, equity in the business must have: 0.5分 A. Increased $22,000. B. Decreased $22,000. C. Increased $89,000. D. Decreased $156,000. E. Increased $156,000. 2. If the liabilities of a company increased $74,000 during a period of time and equity in the company decreased $19,000 during the same period, what was the effect on the assets? 0.5分 A. Assets...
Which of the following describes a balance sheet? Reports the amount and compositions of assets and...
Which of the following describes a balance sheet? Reports the amount and compositions of assets and liabilities at a specified point in time Reports cash receipts and cash disbursement for a specific accounting period Reports revenues and expenses for a specific accounting period Reports the amount and composition of assets and liabilities at a specific accounting period
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT
Active Questions
  • Suppose that the time (in hours) that Irene spends on an untimed final exam follows an...
    asked 4 minutes ago
  • The following sample observations were randomly selected. (Round intermediate calculations and final answers to 2 decimal...
    asked 17 minutes ago
  • what type of graph is best suitable for data obtained from customer ratings. The ratings are...
    asked 20 minutes ago
  • Determine the cumulative 15-year 18 kip ESAL’s in the design lane for 2-lane highway for the...
    asked 28 minutes ago
  • Q: Dr.Grimace, the evil dentist, is trying to find out if his patients suffer from periodontal...
    asked 28 minutes ago
  • After collecting data on 19283 dogs, you find that male vallhunds have an average weight of...
    asked 30 minutes ago
  • Research Target Corporation and assess your satisfaction with the company you researched and make recommendations about...
    asked 31 minutes ago
  • Evidence suggests that 70% of FSU students like turtles. Suppose we randomly sampled 15 FSU students....
    asked 31 minutes ago
  • Ulrich challenges the appropriateness of the nearly universal symbolism of the spinning wheel as the marker...
    asked 32 minutes ago
  • Differential Equations: Please try to computer type, if not possible be clear and organize. Thank you...
    asked 32 minutes ago
  • In your opinion, what are the three (3) most important benefits an employer can give to...
    asked 38 minutes ago
  • In a test of the effectiveness of garlic for lowering​ cholesterol, 81 subjects were treated with...
    asked 40 minutes ago