56) Put an X in the appropriate box to indicate the financial statement(s) where the following line items would appear.
Some items may appear on more than one statement.
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Income Statement
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Statement of Changes in Shareholders' Equity
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Statement of Cash Flows
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Balance Sheet
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1.
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Supplies
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2.
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Supplies expense
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3.
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Cash paid for supplies
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4.
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Cash paid for salaries
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5.
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Salaries payable
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6.
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Salaries expense
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7.
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Unearned service fees
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8.
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Cash collected from customers
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9.
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Service fees earned
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10.
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Accounts receivable
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11.
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Accumulated depreciation
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12.
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Depreciation expense
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13.
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Equipment (net)
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14.
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Prepaid advertising
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15.
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Advertising expense
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16.
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Cash paid for advertising
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17.
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Interest expense
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18.
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Cash paid for interest
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19.
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Interest payable
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20.
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General & administrative expenses
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21.
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Net earnings
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22.
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Retained earnings
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23.
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Income tax expense
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24.
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Income taxes payable
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25.
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Gross profit
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57) Indicate which financial statement would report the following items of information. Some items may appear on more than one statement. You should include all of them.
Your choices are as follows:
IS = Income statement
OE = Statement of changes in shareholders’ equity
BS = Balance sheet
CF = Statement of cash flows
NONE = Item does not appear on any of the financial statements
Interest expense
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Sales revenue
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Unearned revenue
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Office supplies
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Equipment
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Cash flow from operating activities
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Net income
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Salaries expense
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Cash flow from financing activities
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Accumulated depreciation
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Interest receivable
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Salaries payable
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58) Indicate which financial statement would report the following items of information. Some items may appear on more than one statement. You should include all of them in your answer. If an item does not appear on any financial statement, write NONE.
Your choices are as follows:
IS = Income statement
OE = Statement of changes in shareholders’ equity
BS = Balance sheet
CF = Statement of cash flows
NONE = Item does not appear on any of the financial statements
Cash flow from operating activities
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Unearned revenue
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Interest payable
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Profit margin on sales ratio
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Depreciation expense
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Cash flow from investing activities
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Prepaid rent
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Cash
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Operating expenses
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Accumulated depreciation
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Interest receivable
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Interest expense
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