Outstanding Non Financial Statement Income Statement And Balance Sheet Practice Questions

Another name for the balance sheet is.

Non financial statement income statement and balance sheet practice questions. Only revenue and expense accounts are displayed on the income statement. Uses a perpetual inventory system. Financial Statement Effects Template Balance Sheet Income Statement Cash Asset Noncash Assets Liabil ities Contrib.

The following figures were taken from the statements of HSBL Engineering. Choose your answers to the questions and click Next to see the next set of questions. Questions to Ask About Balance Sheet and Income Statement Page 1 of 3.

Both the balance sheet and the income statement are affected. Prepare Income statement and balance sheet for the year 2007. Green as at 31 March 2015 in both horizontal and vertical style.

Capital Earned Capital Net Income Transaction Revenues Expenses 1. Preparation of Balance Sheet Horizontal and Vertical Style. The following trial balance is prepared after preparation of income statement for F.

Purchased 2000 of invertory on credit 0 0 3. Receive 20000 in exchange for common stock 0 0 2. A common size income statement is an income statement in which each account is expressed as a percentage of the value of sales.

The income statement is affected but the balance sheet is not. Group 1 Review Income Statement Group 2 Review Budgeted Income Statement Group 3 Review Audited Statements of Activities and Functional Expenses and compare to Cash Basis Income Statement Group 4 Review Statement of Financial Position and compare to Cash Basis Balance Sheet. Questions for Financial Statements.