Question

Select the financial statement on which the user would most likely find the answer to the...

Select the financial statement on which the user would most likely find the answer to the question given. (Select all that apply.) How much depreciation expense did the company report during the year?

a.Statement of retained earnings

b.Income statement

c.Balance sheet

d.Statement of cash flows

Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1
  • Depreciation expense is an ‘expense’ item.
  • Hence, it will most likely be found on [b] Income Statement, because Income Statement contains ‘revenues’ and ‘expense’ items.
  • Please note that if Statement of Cash flows is prepared using INDIRECT method, the depreciation expense will also be presented on the statement of cash flows under Operating activities.
  • Hence,
    >First choice of answer would be [b] Income Statement,
    >Second choice [in addition to first one] would be [d] Statement of Cash flows
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
1. Dividends would appear on Select one: a. Income Statement b. Statement of Retained Earnings c....
1. Dividends would appear on Select one: a. Income Statement b. Statement of Retained Earnings c. Balance Sheet Statement d. None of the above 2. If assets increase $80,000 during a given period and liabilities increase $30,000 during the same period, stockholders' equity must have:::If assets increase $80,000 during a given period and liabilities increase $30,000 during the same period, stockholders' equity must have: Select one: a. decreased $50,000 b. decreased $40,000 c. increased $50,000 d. increased $30,000 3. Salary...
PLEASE DO IT BY TPYE NOT PICS QUESTION 1 Select all of the accounts that have...
PLEASE DO IT BY TPYE NOT PICS QUESTION 1 Select all of the accounts that have a natural debit balance: Revenue Liability Expense Asset Retained Earnings Common Stock Dividend QUESTION 2 The five products of financial accounting and the result of the eighth step of the accounting process are: Income Statement, Business Progress Statement, Balance Sheet, Statement of Cash Flows, Asset and Liability Statement Income Statement, Notes to the Income Statement, Statement of Retained Earnings, Notes to the Retained Earnings...
The _________ provides a financial summary of the firm’s operating results during a specified period. Select...
The _________ provides a financial summary of the firm’s operating results during a specified period. Select one: a. balance sheet. b. statement of retained earnings. c. statement of cash flows. d. income statement.
Identify the financial statement (Balance Sheet, Income Statement, Statement of Retained Earnings, and/or Statement of Cash...
Identify the financial statement (Balance Sheet, Income Statement, Statement of Retained Earnings, and/or Statement of Cash Flow) in which decision makers can find the following information. Hint: In some cases, more than one statement will report the needed data. Common shares Income tax payable Dividends Income tax expense Ending balance of retained earnings Revenue Cash spent to acquire equipment Selling, general and administrative expenses Adjustments to reconcile net income to net cash provided by operations Ending cash balance Current liabilities...
Which of the following scenarios would most likely increase financial leverage? Question 3 A company issues...
Which of the following scenarios would most likely increase financial leverage? Question 3 A company issues bonds to purchase treasury stock. A company buys fixed assets with cash. A company signs an operating lease agreement for a new manufacturing facility. A company increases its dividend payout, making it in cash on the following payment date. Question 4: Bolton Company substantially increased its allowance for bad debt. Which of the following effects will occur? Question 4 options: It will reduce the...
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
All of the following are interrelationships that are important to understand when preparing financial statements except...
All of the following are interrelationships that are important to understand when preparing financial statements except Select one: a. the net income from the income statement is used in the retained earnings statement. b. the ending retained earnings from the retained earnings statement is used in the stockholder's equity section of the balance sheet. c. the cash on the balance sheet should be equal to the cash at the end of the period on the statement of cash flows. d....
QUESTION 1 Select the Sources of Funds that would be included on the Statement of Cash...
QUESTION 1 Select the Sources of Funds that would be included on the Statement of Cash Flows. Increase in Bank Notes Decrease in Bank Notes Net Income Increase in Accounts Payable Increase in Investments Depreciation Decrease in Investments Capital Expenditures Calculate the Ending Cash Balance given the following information: Beginning Cash Balance (1/1/XX): $20,000 Sources of Funds: $15,000 Uses of Funds: $25,000 Ending Cash Balance: ? QUESTION 3 Dallas Company had NET sales of $1,000,000 for the year, cost of...
. On which of the four major financial statements (balance sheet, income statement, statement of cash...
. On which of the four major financial statements (balance sheet, income statement, statement of cash flows, or statement of retained earnings) would you find the following items? a. earnings before taxes b. net plant and equipment c. increase in fixed assets d. gross profits e. balance of retained earnings, December 31, 20xx f. common stock and paid-in surplus g. net cash flow from investing activities h. accrued wages and taxes i. increase in inventory 10. How does the payment...
For each account, place the letter of the financial statement on which it would be found...
For each account, place the letter of the financial statement on which it would be found in the space provided. Some items may appear on more than one statement. a) Income Statement b) Balance Sheet c) Statement of Retained Earnings d) Statement of Owners Capital 1. Retained Earnings 2. Accumulated Depreciation 3. Common Stock 4. Dividends 5. Additional Paid- in Capital 6. Gains on sales of Equity 7. Investment in common stock 8. Treasury Stock 9. Preferred Stock 10. Accounts...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT