Homework answers / question archive / identify the effect on each component of the income statement

identify the effect on each component of the income statement

Accounting

Share With

1. identify the effect on each component of the income statement. and balance sheet

   1. a new computer was purchased for 2000 cash.

   2. a one-year insurance policy costing $12000 was purchased today.

   3. purchased $45 of fuel for the van- paid cash.

   4. collected 900 from a client for work performed today.

2. Required 1. Indicate whether each account listed is a(n) asset (A), liability (L), owner's equity (OE), revenue (R), or expense (E) account. 2. Indicate whether each account listed appears on the balance sheet (B), income statement (1), statement of owner's equity (SOE), or the cash flow statement (CF). Some accounts can appear on more than one statement. the cash flow statement (CF). Some accounts can appear on more than one statement. Type of Account E Statement 1 A B OE B, SOE ? B R 1 1. Supplies Expense 2. Accounts Receivable 3. J. Chiang, Capital 4. Computer Equipment 5. Consulting Service Revenue 6. Accounts Payable 7. Rent Expense 8. Cash 9. J. Chiang, Withdrawals 10. Supplies 11. Note Payable L B E ? B, CF B, SOE OE ? B L B Choose from any drop-down list and then click Check Answer.

3. What is the optimal solution for the following problem? Nacimize P = subject to 4x + 12y 3x + 5y s 12 6x + 2y s 10 x 20, 20 and Multiple Choice IX. y) - (1670). (7) - (024) (x, y) = (0,0) xy)-(24,0)