Ask Experts Questions for FREE Help !
Ask
    nikapatterson's Avatar
    nikapatterson Posts: 4, Reputation: 1
    New Member
     
    #1

    Feb 3, 2008, 03:11 PM
    Appropriate financial statement category
    Hello,

    Can someone out there help me out with the question below?
    I am really struggling with this accelerated online accounting class. Thanking you in advance.


    To the left of each of the following items, write the letter representing the appropriate financial statement category in which the item would most appropriately appear: A, L, OE, R or E, to represent Asset, Liability, Owners Equity, Revenue or Expense:

    The amount of dividends declared during the period

    The amount of depreciation accumulated on plant assets

    Treasury stock

    Revenue that has been recorded but not yet earned
    justwonder2's Avatar
    justwonder2 Posts: 12, Reputation: 2
    New Member
     
    #2

    Feb 3, 2008, 03:23 PM
    1. Increase in liability
    Debt - Dividend declared Credit _ dividend payable
    2. Increase in Expense
    Debt - Depreciation expense Credit - Accumulated depreciation
    3. Not sure - Sorry

    4. Increase in Liablility
    Credit unearned revenue

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Financial Statement with Balance sheet and income statement [ 1 Answers ]

Here's the problem: The Hobart Company incurred the following transactions during 2003: A. Acquired $50,000 of cash capital from owners B. Paid $10,000 to acquire manufacturing equipment C. Paid $5,000 cash for materials used in production D. Paid $2,000 for wages of production workers...

Financial Statement [ 1 Answers ]

You are in charge of a storage shed business. You recognize sales when the shed is fully installed in the customerís yard. Your company takes 25% deposits on all orders. At the end of your accounting cycle, you have $500,000 in customer deposits. How do you state and properly account for this...

Financial statement [ 1 Answers ]

Can you explain me in detail the natural and the purpose of the three major financial statement.

Need helps... Financial statement [ 3 Answers ]

This is the trial balance Debit (₤) Credit (₤) Bank 5,163 Buildings 55,000 Van 4,000 Shop fittings 5,200 Equipment 1,000 Capital ...


View more questions Search