fill in the blanks. 1. the statement of financial position is also known as a(n)
ID: 2818282 • Letter: F
Question
fill in the blanks.
1. the statement of financial position is also known as a(n) ?
2. the inventory account is found on the ?
3. net sales less cost of goods sold yields ?
4. prepaid expenses are a ?
5. which of the following accounts represents the market value of the company ?
6. capital stock is found on the ?
7. the wages accrual adjusting entry credits a liability account and debits.
8. if a liability increases, then.
9. if an owners equity account increases then...
10. blue talon llc purchased a three year insurance policy for $3000. at the end of the first year, blue talon adjusts insurance expense by crediting.
Explanation / Answer
1. the statement of financial position is also known as a(n) ?.......... Balance sheet
2. the inventory account is found on the ? Current Assets Section of Balance sheet
3. net sales less cost of goods sold yields ? Gross profit or Gross Margin
4. prepaid expenses are a ? Current asset
5. which of the following accounts represents the market value of the company ?
Question is incomplete. .... Give the options in the comment. ...... I Can help you.
6. capital stock is found on the ? Shareholders Equity section in Balance sheet
7. the wages accrual adjusting entry credits a liability account and debits Wage Expenses .
8. if a liability increases, then. Asset also increases or another liability decreases
9. if an owners equity account increases then.. Assets Increases
10. blue talon llc purchased a three year insurance policy for $3000. at the end of the first year, blue talon adjusts insurance expense by crediting. Insurance Expenses a/c
Note ........ In case you have multiple choices given and any of the above words does not match.......... kindly comment the options available to you. All the best.