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Managers Often Consult Financial Statements for Specific Types of Information

Question 82

Essay

Managers often consult financial statements for specific types of information. Indicate whether each of the following items would appear on the income statement, statement of owner's equity, or the balance sheet. Note that an item may appear on more than one statement. The first item is completed as an example.
 Income  Statement  Statement of  Owner’s  Equity  Balance Sheet  Accounts Payable X Accounts Receivable  Accumulated Depreciation - Equipment  Cash  Depreciation Expense - Equipment \begin{array} { | l | l | l | l | } \hline & \begin{array} { c } \text { Income } \\\text { Statement }\end{array} & \begin{array} { l } \text { Statement of } \\\text { Owner's } \\\text { Equity }\end{array} & \text { Balance Sheet } \\\hline \text { Accounts Payable } & & & \mathrm { X } \\\hline \text { Accounts Receivable } & & & \\\hline \text { Accumulated Depreciation - Equipment } & & & \\\hline \text { Cash } & & & \\\hline \text { Depreciation Expense - Equipment } & & & \\\hline\end{array}
 Equipment  Fees Income  N. Dalton, Capital, beginning of period  N. Dalton, Capital, end of period  N. Dalton, Drawing  Rent Expense  Salaries Expense  Supplies  Supplies Expense  Total assets of the business  Total expenses for the period  Total liabilities of the business  Total revenues for the period \begin{array} { | l | l | l | l | } \hline \text { Equipment } &\quad\quad &\quad\quad &\quad\quad \\\hline \text { Fees Income } & & & \\\hline \text { N. Dalton, Capital, beginning of period } & & & \\\hline \text { N. Dalton, Capital, end of period } & & & \\\hline \text { N. Dalton, Drawing } & & & \\\hline \text { Rent Expense } & & & \\\hline \text { Salaries Expense } & & & \\\hline \text { Supplies } & & & \\\hline \text { Supplies Expense } & & & \\\hline \text { Total assets of the business } & & & \\\hline \text { Total expenses for the period } & & & \\\hline \text { Total liabilities of the business } & & & \\\hline \text { Total revenues for the period } & & & \\\hline\end{array}

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