207F09whichfin (1) - (IS/BS/CF/RE/N 8 Rating on the value...

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ACCT 207 WHICH FINANCIAL STATEMENT? Purpose: To reinforce understanding of the information provided by each financial statement. Circle the financial statement(s) you would consult to find the following information. Although more than one answer may seem correct, circle the best one. Then transfer answers to scantron according the following key. A = IS = Income statement B = BS = Balance sheet C = CF = Statement of cash flows D = RE = Statement of retained earnings E = N = Not found on any of the Financial Statements A B C D E 1. The profitability of the company. (IS/BS/CF/RE/N) 2. Insurance costs paid this year. (IS/BS/CF/RE/N) 3. Market value of the common stock issued by the corporation (IS/BS/CF/RE/N) 4. Cost of equipment allocated to this accounting period. (IS/BS/CF/RE/N) 5. Equipment book value (carrying value). (IS/BS/CF/RE/N) 6. How assets are financed. (IS/BS/CF/RE/N) 7. Accrual basis accounting used to compute operating results.
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Unformatted text preview: (IS/BS/CF/RE/N) 8. Rating on the value of the company as an investment. (IS/BS/CF/RE/N) 9. Supplies used. (IS/BS/CF/RE/N) 10. Cost of salaries still owed. (IS/BS/CF/RE/N) 11. Amounts contributed by common shareholders. (IS/BS/CF/RE/N) 12. Inventory remaining unsold at the end of the accounting period. (IS/BS/CF/RE/N) 13. Amount of loans repaid this period. (IS/BS/CF/RE/N) 14. The liquidity of the company. (IS/BS/CF/RE/N) 15. Financial statement reporting amounts as of a certain date. (IS/BS/CF/RE/N) 16. Auditor's opinion. (IS/BS/CF/RE/N) 17. Current market value of equipment purchased ten years ago. (IS/BS/CF/RE/N) 18. Inventory sold during the accounting period. (IS/BS/CF/RE/N) 19. Insurance costs incurred this year (IS/BS/CF/RE/N) 20. Cash basis accounting used to compute operating results. (IS/BS/CF/RE/N)...
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