Question

Financial documents: For each of the following, indicate which financial documents (income statement, balance sheet, cash...

Financial documents: For each of the following, indicate which financial documents (income statement, balance sheet, cash flow statement, budget) would show this information.

  1. Profit or loss for a given period of time
  2. Assets and their value on a given date
  3. Expenses for a period of time
  4. Money paid out during a period of time
  5. Beginning and ending cash balance for a period of time
  6. Projected income for a period of time
  7. Income as a percentage of sales
  8. Owner’s equity on a given date
  9. Liabilities on a given date
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Homework Answers

Answer #1

Answer :-

1. Profit or Loss for a given period of time = Income Statement

2. Assets and their value on a given date = Balance Sheet

3. Expenses for a period of time = Income Statement

4. Money paid out during a period of time = Cash flow statement

5. Beginning and ending cash balance for a period of time = Cash flow statement

6. Projected income for a period of time = Budget

7. Income as a percentage of sales = Budget

8. Owner's equity on a given date = Balance Sheet

9. Liabilities on a given date = Balance Sheet

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