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D Bowers Week 1 HW.xlsx

D Bowers Week 1 HW.xlsx - E1.22 Presented below is a list...

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E1.22 Financial Statement Classification B/S A B/S SE I/S R B/S A B/S SE B/S L B/S L B/S A E1-23 HINT: YEAR ONE ENDING BALANCE IS THE SAME THING A The Balance Sheet Equation The Arcadia Company reported the following financial results during its first two years of oper Year End Assets Liabilities Year 1 $80,000 $60,000 Year 2 70,000 40,000 E1-24 HINT: YEAR ONE ENDING BALANCE IS THE SAME THING A The Balance Sheet Equation The Claremont Company reported the following financial results during its first two years of o Year End Assets Liabilities Year 1 $110,000 $60,000 Year 2 125,000 80,000 E1-25 Presented below is a list of financial statement accounts. Identify (a) whether the listed accounts appear on the balance sheet (B/S) or income statement (I/S) or not applicable (N/A). (b) list the account classification: assets (A), liabilities (L), shareholders' equity (SE), revenue (R), expenses (E) or not applicable (N/A) . 1. Accounts receivable 2. Common stock 3. Sales 4. Land 5. Retained earnings 6. Notes payable 7. Dividends paid 8. Inventory
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