Question

Indicate in which financial statement each item would most likely appear: income statement (I), balance sheet (B), statement of retained earnings (E), or statement of cash flows (CF).
(BS) Assets
(CF) Cash from operating activities
(E) Dividends
(BS) Equipment
(IS) Expenses
(BS) Liabilities
(CF) Net decrease (or increase) in cash
(IS) Revenues
(BS) Total liabilities and equity

Answer 1

Answer:

Assets (B)

Cash from operating activities  (CF)

Dividends  (E)

Equipment  (B)

Expenses  (I)

Liabilities  (B)

Net decrease (or increase) in cash  (CF)

Revenues  (I)

Total liabilities and equity (I)

Explanation:

The balance sheet shows the assets, liabilities and equity of an entity as at a given date.

The income statement shows the revenue and expenses of the entity for the period ended while the statement of retained earnings shows the movements within the retained earnings account during the review period.

The statements of cashflow shows the net flow of cash from the company's activities namely; Operating, investing and financing activities.