MODULE 4 HOMEWORK Please look at the following accounts and tell me what statement or statements they appear on. The statement options are listed below. Gain on Sale of Equipment Preferred Stock Trucks Unearned Revenues Copyrights Amortization Expense Accounts Payable Accounts Receivable Investment in Common Stock Treasury Stock 1.Income Statement2.Statement of Retained Earnings3.Balance Sheet4.Statement of Owners’ Capital

MODULE 4 HOMEWORK Please look at the following accounts and tell me what statement or statements they appear on. The statement options are listed below. Gain on Sale of Equipment Preferred Stock Trucks Unearned Revenues Copyrights Amortization Expense Accounts Payable Accounts Receivable Investment in Common Stock Treasury Stock 1.Income Statement2.Statement of Retained Earnings3.Balance Sheet4.Statement of Owners’ Capital

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Description: MODULE 4 HOMEWORKPlease look at the following accounts and tell me what statement or statements they appear on. The statement options are listed below.Gain on Sale of Equipment Preferred Stock Trucks Unearned Revenues Copyrights Amortization Expense

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.12MCE

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Concept explainers

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is

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MODULE 4 HOMEWORK

Please look at the following accounts and tell me what statement or statements they appear on. The statement options are listed below.

Gain on Sale of Equipment

Preferred Stock

Trucks

Unearned Revenues

Copyrights

Amortization Expense

Accounts Payable

Accounts Receivable

Investment in Common Stock

Treasury Stock

1.
Income Statement
2.
Statement of Retained Earnings
3.
Balance Sheet
4.
Statement of Owners’ Capital

Definition Definition Type of stock which is granted priority over dividend distributions as compared to common stockholders. Preferred stocks also do not carry any voting rights. Notably, in a case where a company is going to be liquidated, preferred stockholders have a priority claim on the value of assets of the company as quoted in the balance sheet, as compared to the common stockholders.

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