Suppose you are analyzing the financial statements of a Canadian company. Identify each item with its appropriate

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Suppose you are analyzing the financial statements of a Canadian company. Identify each item with its appropriate financial statement, using the following abbreviations: income statement (IS), statement of retained earnings (SRE), balance sheet (BS), and statement of cash flows (SCF).
Three items appear on two financial statements, and one item shows up on three statements.
a. Dividends __________
b. Salary expense __________
c. Inventory __________
d. Sales revenue __________
e. Retained earnings __________
f. Net cash provided by operating activities __________
g. Net income __________
h. Cash __________
i. Net cash provided by financing activities __________
j. Accounts payable __________
k. Common shares __________
l. Interest revenue __________
m. Long-term debt __________
n. Net increase or decrease in cash _________
Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial...
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...
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Financial Accounting

ISBN: 978-0133472264

5th Canadian edition

Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin

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