1.10

5 multiple choice questions:

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2.

3.

4.

5.

were $500. Based on this information alone, what was the amount of retained earnings at the beginning of Year 2 ? Multiple Choice $3,300 $3,700 $2,800 $3,800 Net income appears on which of the following financial statements? Multiple Choice Balance Sheet Balance Sheet and Statement of Changes in Stockholders' Equity Income Statement Income Statement and Statement of Changes in Stockholders' Equity were $1,300. Based on this information alone, what was the amount of retained earnings at the beginning of Year 2 ? Multiple Choice $3,750 $2,950 $7,200 $1,650 ich of the financial statements are required by the Generally Accepted Accounting Principles (GAAP)? Multiple Choice Income Statement Statement of Changes in Stockholders' Equity Statement of Cash Flows Balance Sheet All of these financial statements are required by GAAP Indicate whether each of the following statements about financial statements is true or false. A cash dividend paid to stockholders is reported in the investing activities section of the statement of cash flows. A cash dividend paid to stockholders is reported on the statement of changes in stockholders' equity. A cash dividend paid to stockholders is reported on the income statement. The balance sheet reports the ending balances of permanent accounts as of the last day of the accounting period Changes in retained earnings during the accounting period are reported on the income statement