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VSB 2004 Exam 1 Questions & Answers 2024/2025 $10.49
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Exam (elaborations)

VSB 2004 Exam 1 Questions & Answers 2024/2025
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VSB 2004 Exam 1 Questions & Answers 2024/2025 Common stock is issued for $500,000 cash would affect - ANSWERSBalance sheet, statement of cash flows (financing activity), statement of shareholder's equity 20 units of inventory sold for $50 cash each would affect - ANSWERSBalance sheet, state...

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  • August 8, 2024
  • 21
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • vsb 2004 exam 1 questions answers

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  • VSB 2004
  • VSB 2004

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VSB 2004 Exam 1 Questions & Answers
2024/2025

Common stock is issued for $500,000 cash would affect - ANSWERSBalance sheet, statement of cash
flows (financing activity), statement of shareholder's equity



20 units of inventory sold for $50 cash each would affect - ANSWERSBalance sheet, statement of cash
flows (operating activity), statement of shareholder's equity, income statement



20 units of inventory sold for $50 on account would affect - ANSWERSBalance sheet, statement of
shareholder's equity, income statement



Employee wages are paid in same period as incurred would affect - ANSWERSBalance sheet, statement
of cash flows (operating activity), statement of shareholder's equity, income statement



A new warehouse facility is purchased would affect - ANSWERSBalance sheet, statement of cash flows
(investing activity)



Principal payments on outstanding debt are paid would affect - ANSWERSBalance sheet, statement of
cash flows (financing activity)



Dividends are declared and paid to the shareholders would affect - ANSWERSBalance sheet, statement of
cash flows (financing activity), statement of shareholder's equity



A four-year old vehicle, used as a delivery truck, is sold for $9,000 (its book value) would affect -
ANSWERSBalance sheet, statement of cash flows (investing activity)



A utility bill for March is paid in April would affect - ANSWERSBalance sheet, statement of cash flows
(operating activity

,Equipment would show up on balance sheet or on income statement? - ANSWERSBalance sheet



Service revenue would show up on balance sheet or on income statement? - ANSWERSincome
statement



retained earnings would show up on balance sheet or on income statement? - ANSWERSBalance sheet



salaries and wages expense would show up on balance sheet or on income statement? -
ANSWERSincome statement



patent would show up on balance sheet or on income statement? - ANSWERSBalance sheet



cost of goods sold would show up on balance sheet or on income statement? - ANSWERSincome
statement



common stock would show up on balance sheet or on income statement? - ANSWERSBalance sheet



dividends payable would show up on balance sheet or on income statement? - ANSWERSBalance sheet



accumulated depreciation would show up on balance sheet or on income statement? - ANSWERSBalance
sheet



prepaid expense would show up on balance sheet or on income statement? - ANSWERSBalance sheet



Gain on sale of stock investments would show up on balance sheet or on income statement? -
ANSWERSincome statement



rent revenue would show up on balance sheet or on income statement? - ANSWERSincome statement



supplies would show up on balance sheet or on income statement? - ANSWERSBalance sheet

, accounts recievable would show up on balance sheet or on income statement? - ANSWERSBalance sheet



land would show up on balance sheet or on income statement? - ANSWERSBalance sheet



Insurance Expense would show up on balance sheet or on income statement? - ANSWERSincome
statement



interest payable would show up on balance sheet or on income statement? - ANSWERSBalance sheet



unearned revenue would show up on balance sheet or on income statement? - ANSWERSBalance sheet



Income statement category for: salaries and wage expense - ANSWERSoperating expense



Income statement category for: service revenue - ANSWERSservice revenue



Income statement category for: insurance expense - ANSWERSoperating expense



Income statement category for: sales (of inventories) - ANSWERSSales



Income statement category for: selling and administrative expenses - ANSWERSoperating expense



Income statement category for: depreciation expense - ANSWERSoperating expense



Income statement category for: supplies expense - ANSWERSoperating expense



Income statement category for: loss on disposal of plant assets - ANSWERSother expense



Income statement category for: interest revenue - ANSWERSother revenue

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