1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
IgorLugansk [536]
3 years ago
5

Four financial statements are usually prepared for a business. The statement of cash flows is usually prepared last. The stateme

nt of owner's equity (OE), the balance sheet (B), and the income statement (I) are prepared in a certain order to obtain information needed for the next statement. In what order are these three statements prepared?
Business
1 answer:
Bezzdna [24]3 years ago
6 0

Answer:

1. Income statement

2. Statement of owner equity

3. Balance sheet

Explanation:

As we know that financial statements are very important for any type of business. But the sequence of the financial statements is more important.  

In the given question, the cash flow statement is prepared last but before that, we have to make three statements more

1. Income statement: This statement tells about the net income or net loss of the company

2. Statement of owner equity: It tell the ending balance of the owner equity which will show in the balance sheet

3. Balance sheet: At last, the balance sheet is prepared which includes assets, liabilities, and shareholder's equity.

You might be interested in
Listed below are accounts that appear in financial statements.
Kobotan [32]

Answer:

Dividends  - <em>Statement of Changes  in Retained Earning</em>

Dividends are payments to shareholders from a company's net income. They are derived from the Statement of Changes  in Retained Earning because this is where Net Income is sent to. After they are deducted from Retained Earnings, the Earnings form part of Equity.

Differed Revenue  - <em>Balance Sheet</em>

Differed Revenue refers to money that was received from a customer or client for goods and/or services that have not yet been delivered. The business will treat them as a liability until they are delivered so they will go under Current Liabilities in the Balance Sheet assuming they are to be fulfilled in 12 months or less which is usually the case.

Service Revenue - <em>Income Statement</em>

These are revenue that the business earns for providing a service when their main source of revenue is by selling goods. It is listed in the Income Statement just after Revenue and is added to Revenue to get Total Revenue.

7 0
3 years ago
Timothy was tasked with creating the budget for the next fiscal year. He had to create a cost-profit analysis report of all the
Helga [31]

Obviously, Mr Timothy’s position within the company is Chief Financial officer

Chief Financial officer is the officer responsible for management of company's finances and top-level budgets.

So, as the Chief Financial officer, his responsibility includes:

  • creating the budget for a fiscal year
  • creating a cost-profit analysis report
  • identifying avenues for possible cost reduction in the budget

In conclusion, Mr Timothy’s position within the company is Chief Financial officer

Read more about CFO

<em>brainly.com/question/25511920</em>

3 0
2 years ago
Read 2 more answers
Instead of canceling their contract, William, Laverne, and Laverne's mother, Irma, form another contract in which they all agree
polet [3.4K]

Answer:

yes it is novation

Explanation:

6 0
3 years ago
Read 2 more answers
Which of the following BEST describes a conflict of interest? O A. Two companies competing for the business of the same customer
loris [4]
Im pretty sure it’s C
8 0
3 years ago
Software Sales Supply is expected to pay its first annual dividend of $1.10 per share in Year 3. Starting in Year 6, the company
Andru [333]

Explanation:

Let the dividend paid in Year n be Dn

Given, D3 = $1.10

D4 = $1.10

D5 = $1.10

Growth in dividend from Year 6 = g = 3.2%

D6 = D5(1+g) = 1.10(1+0.032) = $1.135

Required Return = r = 13.1%

According to Gordon's Growth model,

P5 = D6/(r - g) = 1.135/(0.131 - 0.032) = $11.464

Present Value of the stock = P0 = D3/(1+r)3 + D4/(1+r)4 + D5/(1+r)5 + P5/(1+r)5

= 1.10/(1+0.131)3 + 1.10/(1+0.131)4 + 1.10/(1+0.131)5 + 11.464/(1+0.131)5

= <u>$8.22</u>

8 0
3 years ago
Other questions:
  • You could give any number of people__________ per year without having to pay any gift taxes,
    13·1 answer
  • Registration in Ms. McNick's classes reaches maximum enrollment quickly. Students register immediately online just to insure the
    13·1 answer
  • Unlimited liability means a. stockholders can borrow money from the business. b. there is no limit on the amount an owner can bo
    11·1 answer
  • 13. Average clients change their interiors every _______ years. A.2 C. 15
    5·2 answers
  • OB research on job performance and individual characteristics draws primarily from studies in ___________. a.social relationship
    13·2 answers
  • I wanna to know answers for this questions
    11·2 answers
  • The government of a small country has made it mandatory for international banks and insurance firms to obtain the consent of ind
    7·1 answer
  • Karin Company's loan is due on July 1, 2018. What conditions must Karin meet (at a minimum) so that the note can be classified a
    15·1 answer
  • Consider the CAPM. The risk-free rate is 7%, and the expected return on the market is 13%. What is the expected return on a stoc
    5·1 answer
  • Pls help me and thanks
    7·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!