Chapter 6 Lecture problems

Chapter 6 Lecture problems - Chapter 6 Exercise 1 (1 of 5)...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 6 – Exercise 1 (1 of 5) The following is a list of financial statement items and amounts from a recent income statement and balance sheet of Basic Corporation. The company closed its books on December 31, 20A. For each financial statement item listed, indicate whether it appears on the income statement or balance sheet. The first item has been completed as an example. Financial Statement Item Amount Income Statement Balance Sheet Accounts payable $ 41,000 X Accounts receivable 262,000 Accrued expenses payable 37,000 Accumulated amortization 128,000
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Chapter 6 – Exercise 1 (2 of 5) Financial Statement Item (page 1 of 2) Amount Income Statement Balance Sheet Accounts payable $ 41,000 X Accounts receivable 262,000 Accrued expenses payable 37,000 Accumulated amortization 128,000 Bonds payable 51,000 Cash and cash equivalents 125,000 Common stock 150,000 Contributed surplus 20,000 Cost of goods sold 350,000 Extraordinary gain, net of income tax 32,000 General and administrative expenses 75,000 Interest income 10,000
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 12

Chapter 6 Lecture problems - Chapter 6 Exercise 1 (1 of 5)...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online