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WorksheetsAGMGT 2115-Quiz 4
Total questions: 10
Worksheet time: 3mins
The statement of changes in owner's equity will not show
revenues and expenses
owner's ending capital balances
owner's initial capital balance
owner's withdrawal for the period
The profit figure appears in the following financial statements except the
balance sheet
income statement
statement of cash flow
statement of owner's equity
Which of the following types of information is not found in the financial statement?
profits
revenues
selling price
assets
Which situation indicates a loss on the income statement?
total debits equal total credits
total credits exceed total debits
total debits exceed total credits
The following statement are true except:
A loss occurs when there are more expenses than revenues.
Withdrawals are recorded in the Balance Sheet debit column
Accumulated depreciation appears on the income statement
Liability and equity accounts are placed under debit column of the balance sheet
Net purchases are considered in the preparation of the income statement of this business.
Merchandising business
Manufacturing business
Service type business
Which of the following statement is true?
Financial position is also known as statement of financial statement.
The excess of expenses over revenues is called loss.
Assets, liabilities, capital and withdrawal accounts are extended to the income statement
The following statements are true except:
The statement of owner's equity discloses the withdrawals during the period.
Accumulated depreciation appears on Balance Sheet credit column
The accounts wages payable would appear on the income statement
Which of the following statements is false?
The excess of debits over credits is called loss
The heading for an income statement might include the line "As of December 31, 2019"
Accumulated depreciation appears on the balance sheet
Which of the following financial statements show accounts receivable?
Income Statement
Statement of Owner's Equity
Balance Sheet
