Question

Identify the financial statement (or statements) in which each of the following items would appear: income statement (IS), statement of stockholders’ equity (SSE), balance sheet (BS), or statement of cash flows (SCF). a. Assets Answer b. Revenues Answer c. Cash flow from investing activities Answer d. Stockholders’ equity Answer e. Expenses Answer f. Net change in cash Answer g. Net income Answer h. Liabilities Answer

Answer 1

Answer: Income statement shows the performance for the year. Balance sheet shows the financial position at the end of the year. Cash flow statement shows the sources and uses of cash.

Explanation: From the above we can categorize the given elements as follows:-

A. assets = balance sheet

B. revenues = income statement

C. cash flow from investing activities =  cash flow statement

D. Stockholders equity = Balance sheet

E. Expenses =  income statement.

F. Net change in cash = cash flow statement

G. Net income = Income statement

H. Liabilities = Balance sheet