How many of the following items are found on the income statement, rather than t
ID: 2329296 • Letter: H
Question
How many of the following items are found on the income statement, rather than the balance sheet? Sales . Notes payable (due in six months) Bonds payable (mature in 10 years) . Common stock Depreciation expense . Inventories Capital in excess of par value . Net income (earnings after taxes) , Income tax payable O Two of these items are found on the income statement. O Three of these items are found on the income statement O Four of these items are found on the income statement 0 Five of these items are found on the income statementExplanation / Answer
Soluton for Question-1
Four of these items are found on the income Statment .
Explanation: Sales, Net Income ( Earning After Tax), Inventories ,Depreciation are shown in income statment and rest of the item shown in balance sheet.
Soluton for Question-2
Four of these items
Explanation: Account Payable, Inventory, Accrued Wages Payable, Accou nt Receivable Sales, are classifies as current assset /Current Liability.
Soluton for Question-3
Plant , Property and equipment is not classified as Current Asset.
Soluton for Question-4
All of the option influence Firm P/E Ratio
Soluton for Question-5
Earning Per Share is
Net Income minus preferred divided by number of share outstandig
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