« previous next »

Author Question: The financial statement that presents a summary of the revenues and expenses of a business for a ... (Read 69 times)

Collmarie

  • Hero Member
  • *****
  • Posts: 569
on: Jul 5, 2018
The financial statement that presents a summary of the revenues and expenses of a business for a specific periodof time, such as a month or year, is called a(n)
 a. prior period statement
  b. statement of owner's equity
  c. income statement
  d. balance sheet

Question 2

The Capital Projects Fund issued general long-term debt at a premium. The conversion worksheet adjustment would include a
 
  a. DEBIT to cash.
  b. CREDIT to bonds payable.
  c. DEBIT to unamortized premium on bonds.
  d. CREDIT to other financing sources.
  e. All of the above.


nickk12214

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jul 5, 2018
Answer to Question 1

c

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

A headache when you wake up in the morning is indicative of sinusitis. Other symptoms of sinusitis can include fever, weakness, tiredness, a cough that may be more severe at night, and a runny nose or nasal congestion.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

Did you know?

Many people have small pouches in their colons that bulge outward through weak spots. Each pouch is called a diverticulum. About 10% of Americans older than age 40 years have diverticulosis, which, when the pouches become infected or inflamed, is called diverticulitis. The main cause of diverticular disease is a low-fiber diet.

Did you know?

About 60% of newborn infants in the United States are jaundiced; that is, they look yellow. Kernicterus is a form of brain damage caused by excessive jaundice. When babies begin to be affected by excessive jaundice and begin to have brain damage, they become excessively lethargic.

Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Summary of oxidative phosphorylation. Summary of oxidative phosphorylation.
Summary of major brain structures. Summary of major brain structures.
The Weather Business: A Brief Overview The Weather Business: A Brief Overview
Summary of Cytokine Activity Summary of Cytokine Activity
Business Math Business Math
Action Potential Summary Action Potential Summary
Video: Covalent bonds - role in the body

For a complete list of videos, visit our video library