4 Select the financial statement that matches with the description (Related transactions). Related transactions a. Change in owners' claims to resources b. Profitability of the company. c. Change in cash as a result of operating, investing, and financing activities. d. Resources equal creditors' and owners' claims to those resources. Financial Statements Balance sheet Income statement Statement of cash flows Statement of stockholders' equity
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Identifying Financial Statement Line Items and Accounts Several line items and account titles are listed below. For each, indicate in which of the following financial statement(s) you would likely find the item or account: income statement (IS), balance sheet (BS), statement of stockholders' equity (SE), or statement of cash flows (SCF). a. Cash asset b. Expenses c. Noncash assets d. Contributed capital e. Cash outflow for land f. Retained earnings g. Cash inflow for stock issued h. Cash outflow for dividends i. Net income
Indicate whether each of the following activities would be reported on the statement of cash flows as (a) an operating activity, (b) an investing activity, or (c) a financing activity: 1. Cash received from fees earned. 2. Cash paid for expenses. 3. Cash paid for land. 4. Cash paid to owner for personal use.
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