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Chapter 4 The Income Statement and Statement of Cash Flows33

Chapter 4 The Income Statement and Statement of Cash Flows33

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Exercise 4-14 Requirement 1 U.S. GAAP also permits the presentation of other comprehensive income items in the statement of shareholders’ equity. Requirement 2 IAS No. 1 also allows companies to report other comprehensive income items in either a combined statement of income and comprehensive income or in a separate statement of comprehensive income. Presentation in the statement of shareholders’ equity is not permitted. Exercise 4-15 1. b _ Purchase of equipment for cash. 2. a _
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Unformatted text preview: Payment of employee salaries. 3. a _ Collection of cash from customers. 4. c _ Cash proceeds from a note payable. 5. b _ Purchase of common stock of another corporation for cash. 6. c _ Issuance of common stock for cash. 7. b _ Sale of machinery for cash. 8. a _ Payment of interest on note payable. 9. d _ Issuance of bonds payable in exchange for land and building. 10. c _ Payment of cash dividends to shareholders. 11. c _ Payment of principal on note payable....
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