Circle the financial statement you would consult to find the following information.
BS = Balance sheet
IS = Income statement
SE = Statement of stockholders’ equity
CF = Statement of cash flows
Not = Not found on any of the financial statements
FINANCIAL STATEMENTS
(Circle only one correct answer)
a. Rental costs incurred this year. (BS / ___/ SE / CF / Not)
b. Rental costs paid this year. (BS / IS / SE / ___/ Not)
c. Rental costs still owed. (___/ IS / SE / CF / Not)
d. Cost of equipment allocated to this accounting period. (BS / ___/ SE / CF / Not)
e. Equipment book value (carrying value). (___/ IS / SE / CF / Not)
f. Market value of equipment purchased ten years ago. (BS / IS / SE / CF / ___)
g. Accrual-basis accounting used to compute operating results. (BS / ___/ SE / CF / Not)
h. Cash-basis accounting used to compute operating results. (BS / IS / SE / ___/ Not)
i. Noncash investing and financing activities. (BS / IS / SE / ___/ Not)
j. Market value of investments in the short-term trading portfolio. (___/ IS / SE / CF / Not)
k. Market value of the common stock issued by the corporation. (BS / IS / SE / CF / ___)
l. Amounts contributed by common shareholders this year. (___/ IS / SE / CF / Not)
m. Inventory remaining unsold at the end of the accounting period. (___/ IS / SE / CF / Not)
n. Cost of inventory sold during the accounting period. (BS / ___/ SE / CF / Not)
o. If we use the FIFO inventory cost flow assumption, the most recent inventory costs will end up on this statement. (___/ IS / SE / CF / Not)
p. Evaluate how assets are currently being financed. (___ / IS / SE / CF / Not)
q. Financial statement reporting amounts as of a certain date. (___ / IS / SE / CF / Not)