Question: Current Assets (CA) Non-current assets (NCA) Current liabilities (CL) Non-Current liabilities (NCL) Share capital (SC) Retained earnings (RE) Statements of income item (SI) Statements of
Current Assets (CA) Non-current assets (NCA) Current liabilities (CL) Non-Current liabilities (NCL) Share capital (SC) Retained earnings (RE) Statements of income item (SI) Statements of cash flows item (SCF) Statement of changes in equity item (SCE)
Use the above abbreviations to answer the following question:
Classify the following items according to where they would appear in the financial statements:
a. An investment in the share of another corporation (the intent is not to sell the investment in the near future) b. Intangible assets c. Increase in bank loan (additional borrowing) d. Supplies used this year e. Cost of developing a new advertising campaign f. Dividends paid g. Earnings over the years that have not been paid to shareholders as dividends h. Interest revenue i. Cash collection from amounts owed by customers on account j. Amounts paid to repurchase shares from shareholders k. Revenue from the provision of service to customers
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
