Question: Provide calculations (if its possible) QUESTION 28 Entity J uses US GAAP and the direct method for operating activities in its statement of cash flows.
Provide calculations (if its possible)
QUESTION 28 Entity J uses US GAAP and the direct method for operating activities in its statement of cash flows. For the following item, indicate on which financial statement, it would appear: Other expenses and losses. O Multi-step income statement O Classified balance sheet O Retained earnings statement Statement of cash flows O Not on any financial statement QUESTION 29 Recognizing revenue when performance obligations are satisfied and expenses when incurred best describes the O expense recognition principle O accrual basis of accounting operating cash flow (cash receipts minus cash payments) O time period assumption QUESTION 30 Entity Y reports the following: Retained earnings. 1/1/2023 Operating expenses during year Revenues during year Dividends paid to shareholders S48.000 29,000 100,000 20.000 What is ending retained earnings (12/31/2023)? O $(7.000) 0909.000 O $135.000 $120,000 QUESTION 31 The quality of information that indicates the information makes a difference in a decision is: O Faithful representation Periodicity O Full-disclosure O Relevance
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