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Six-Column Worksheets/Analyzing Financial Statements

Authored by rose guido

Business

11th Grade

Used 27+ times

Six-Column Worksheets/Analyzing Financial Statements
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12 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

A six-column worksheet is prepared at the end of the fiscal period.

True

False

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When preparing a 6-column worksheet and the balancing figure is placed on the credit side of the Income Statement column, the business has experienced a net income.

true

false

3.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Which of of the following would be an INCORRECT extension on the Worksheet?

HST Payable on the credit side of the Balance Sheet columns

Sales on the credit side of the Income Statement columns

Automobile on the credit side of the Balance Sheet columns

Repairs Expense on the debit side of the Income Statement columns

4.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The presentation of financial data over a number of fiscal periods for analysis is referred to as a(n)

trend analysis

common size analysis

comparative analysis

all of the above are possible

5.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

Office Equipment is classified as a(n)

current asset

fixed asset

current liability

revenue

6.

FILL IN THE BLANK QUESTION

3 mins • 1 pt

The current assets total for a business is $6575. The current liabilities total is $8980. This is not desirable situation because:

7.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In a Statement of Owner's Equity, if the Beginning Capital is $47,500, Net Income is $11,800 and the Ending Capital is $43,400, what is the Drawings figure?

$7,700

$59,300

$4,100

$15,900

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