Question

Identifying Financial Statement Line Items and Accounts
Several line items and account titles are listed below. For each, indicate in which of the following financial statement(s) you would likely find the item or account: income statement (IS), balance sheet (BS), statement of stockholders’ equity (SE), or statement of cash flows (SCF).

a. Cash asset Answer IS,BS,SE,SCF

b. Expenses Answer IS,BS,SE,SCF

c. Noncash assets Answer IS,BS,SE,SCF

d. Contributed capital Answer IS,BS,SE,SCF

e. Cash outflow for land Answer IS,BS,SE,SCF

f. Retained earnings Answer IS,BS,SE,SCF

g. Cash inflow for stock issued Answer IS,BS,SE,SCF

h. Cash outflow for dividends Answer,IS,BS,SE,SCF

i. Net income Answer IS,BS,SE,SCF

Answer 1

1.Income statement:

b.Expenses

2. Balance Sheet

a. Cash assets: it is balance sheet items as current assets

c.non cash assets:it is balance sheet items as intangible assets.

3.Statement of stockholders' equity:

d.contributed capital

f. Retained earnings

i.Net income

4: Statement of cash flow:

e. Cash outflow for land:it is investing activities of cash flow statement

g. Cash inflow for stock issued::it is it is financing activities of cash flow statement

h.  Cash outflow for dividends::it is it is financing activities of cash flow statement and it is also added in operating

activities

i. Net income : it is operating activities