Question

Several line items and account titles are listed below. For each, indicate in which of the following financial statement(s) we would likely find the item or account: income statement (IS), balance sheet (BS), statement of stockholders' equity (SE), or statement of cash flows (SCF). (Select all that apply.)
a. Cash asset
b. Expenses
c. Noncash assets
d. Contributed capital
e. Cash outflow for capital expenditures
f. R etained earnings i. N et income
g. Cash inflow for stock issued
h. Cash outflow for dividends

Answer 1

Answer:

a. Cash Asset (Balance sheet, Statement of cash flow)

b. Expenses (Income Statement)

c. Noncash Assets (Balance sheet)

d. Contributed capital (Balance Sheet, Statement of stockholder's equity)

e. Cash outflow for capital expenditures (Statement of cash flow)

f. Retained earnings (Balance Sheet, Statement of stockholder's equity)

g. Cash inflow for stock issued (Statement of cash flow, Statement of stockholder's equity)

h. Cash outflow for dividends (Statement of cash flow, Statement of stockholder's equity)

i. Net income (Income statement, Statement of stockholder's equity, Statement of cash flow)

Explanation:

Balance sheet: This provides a statement of liabilities, assets, the business capital at any point in time. Its shows the difference between income and expenditure over a period of time.

Statement of Cash flows: This statement breaks down financial analysis into investing, operating and financing activities.

Statement of Stockholders' Equity: A finance document that is issued by a company as a part of the balance sheet. Also shows any increase or decrease in shareholder's equity for an accounting period.

Income Statement: This is a major financial statement that clearly shows how healthy an organization is performing over an accounting period.