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Question
Select the appropriate financial statement for each of the following items.(Note: some items may appear on more than one financial statement.)
a. Income statement
b. Statement of owner's equity
c. Balance sheet
d. Statement of cash flows
1)Consulting Revenue
2)Ahmad Khan, Capital
3)Cash investments by owner
4)Cash proceeds from a long-term loan
5)Supplies
6)Cash withdrawals by owner.
7)Cash payments to purchase equipment
8)Advertising Expense
Answer
This answer is hidden. It contains 37 characters.
Related questions
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Which of the following statements is incorrect?
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B.Accrued expenses and accrued revenues involve assets and liabilities that had not previously been recorded.
C.Adjusting entries can be used to record both accrued expenses and accrued revenues.
D.Prepaid expenses, depreciation, and unearned revenues often require adjusting entries to record the effects of the passage of time.
E.Adjusting entries affect the cash account.
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Adjusting entries are journal entries made at the end of an accounting period for the purpose of:
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B.Assigning revenues to the periods in which they are earned.
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