Esercitazione esame Environmental accounting con soluzioni

Handout 1 - 2 Basic Balance Sheet Elements

Match each account to its classification on the balance sheet:

a. Notes Payable - Liability

b. Cash - Asset

c. Common Stock - Equity

d. Inventories - Asset

e. Accounts Receivable - Asset

f. Accounts Payable - Liability

g. Property, Plant & Equipment - Asset

h. Notes Payable - Liability

i. Retained Earnings - Equity

Handout 1 - 3 Statement of Cash Flows

Match each activity to its classification on the statement of cash flows:

a. Cash paid to suppliers and employees - Operating

b. Cash paid to purchase equipment and other assets - Investing

c. Cash paid for dividends - Financing

d. Cash collected from customers - Operating

e. Cash received from selling equipment and other long-term assets - Investing

f. Cash paid on notes payable and other financing - Financing

Handout 1 - 4 Components of Financial Statements

Match each account, element, or transaction to the financial statement(s) on which it would be reported:

a. Statement of Income - Income Statement

b. Stockholders' Equity - Balance Sheet

c. Statement of Account or Element - Not specified

d. Statement of Equity - Statement of Changes in Equity

e. Balance Sheet - Balance Sheet

f. Statement of Cash Flows - Statement of Cash Flows

The amount of cash paid for equipment.

Cash.

Notes Payable.

Common Stock.

Inventories.

Cost of Goods Sold.

The amount of cash collected from customers.

Accounts Receivable.

Notes Payable.

Marketing Expense.

Property, Plant & Equipment.

Dividends paid to stockholders.

Net Income.

HANDOUT 1 – 2 BASIC BALANCE SHEET ELEMENTS

Match each account to its classification on the balance sheet: Stockholders' Account Asset Liability Equity

a. Notes Payable - Liability

b. Cash - Asset

c. Common Stock - Equity

d. Inventories - Asset

e. Accounts Receivable - Asset

f. Accounts Payable - Liability

g. Property, Plant & Equipment - Asset

h. Notes Payable - Liability

i. Retained Earnings - Equity

Payables always considered liabilities!