Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. please classify each transaction belongs to each f

Please classify each transaction belongs to each financial statement (income statement, balance sheet, and owners...

50.1K

Verified Solution

Question

Accounting

Please classify each transaction belongs to each financial statement (income statement, balance sheet, and owners equity). After the classification, please use the information from the table to create a set of financial statement (income statement, balance sheet and owners equity).

image

AMOUNT STATEMENT Income statement, Balance sheet, or Owner equity. ITEMS $60,000 5,000 600 1,000 3,000 1,500 800 Revenue Accounts receivable Supplies expenses Supplies Notes receivable Rental expenses Utilities expenses Equipment Prepaid expenses 2,500 800 1,000 3,000 2,500 10,000 12,000 8,000 4,500 Accounts payable Salaries expenses Notes payable Owners' additional investment Beginner owner's equity Owner's withdraw Inventory

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Determine whether the stochastic matrix P is regular 0 0 0 2 0 5 0...

Statistics
1.2K views

Multiple choice 1. Suppose Ho: yogurt containers average 8 ounces and Ha: yogurt containers average >8 ounces....

Physics
1.2K views

a k k c k k k k R2 d kqk k k 7 A...

Basic Math
1.2K views

a The slope of a horizontal line is Select The equation of the horizontal line...

Statistics
1.2K views

The mean score of a competency test is 80 with a standard deviation of 5...

Calculus
1.2K views

b The graph of y g x is shown Draw the graph of y g...

Accounting
1.2K views

The fixed costs per unit are $6 when a company makes 8,000 units. What are...

Accounting
1.2K views

Step 1: For each cost, mark the cost as a product cost or a period...

Accounting
1.2K views

21) In activity-based costing, nonmanufacturing costs as well as manufacturing costs may be assigned to...

Accounting
1.2K views

The general fund is often considered to be the principal financial statement for a governmental...

Accounting
1.2K views

Required information Use the following information for the Exercises below. (Static) WThe following information applies...

Accounting
1.2K views

Additional Information for 2021: 1. Purchase investment in bonds for $101,000. 2. Sell land costing...