Question: pls help, i got the wrong answer for the following questions Match the described balance sheet account or income statement transaction with the accounting eleme
pls help, i got the wrong answer for the following questions

Match the described balance sheet account or income statement transaction with the accounting eleme as described on the cheat sheet. A decline in the market value of marketable _-_ current assets (cash account) element. Dividends are distributed to a company's 10 own shareholders. Do not use the current assets (cash account) element. Dividends are received from the holding of __6_- marketable securities. Do not use the current assets (cash account) element. Stock is held through a buy back of the _-_. Company's own stock and not that of another entity. Goodwill is determined to be of a lower value based on discounted future cash flows. Do not use the long-term assets (Goodwill) account) element. 9 An intangible asset is sold at a loss. Do not use the long-term assets element. The company receives a cash dividend on an investment accounted for using the equity method. Do not use the current assets (cash account) element. An Investment is held in the common stock of another company for the purpose of building a supplier relationship over an extended period of time. A patent is amortized and reduced in value based on the passage of time in relation to its useful life. Do not use the long-term assets (Patent) account element. Marketable securities are held for the _-___- purpose of obtaining income on excess cash. 1. Current Assets 2. Long-term Assets 3. Current Liabilities 4. Long-Term Liabilities 5. Contributed Equity 6. Revenue 7. Expense 8. Gain 9. Loss 10. Dividend
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
