Buy custom Hay and Barnabas Company: Adjustments and Classifications
Essay's paper info
| Topic: |
Business
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| Number of pages / Number of words: |
3 / 574 |
Essay's paper body
Both will increase.
Accrued Wages Payable Wage Expense
28,000 28,000
The following is a classification of what financial statement each entry appears and the subtitle for each of them respectively.
1. Cash paid employees for salaries and wages: balance sheet
Income statement, wages
2. Cash collected from sales customers: balance sheet
a...
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Cash collected from sales customers: balance sheet
a. Current assets, accounts receivables
3. Bonds payable: balance sheet
c. Current liabilities, Notes payable
4. Cash: balance sheet
a. Current assets, cash and cash equivalents
5. Common stock: balance sheet
e. Stockholder's equity, preferred stock
6...
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The statement of financial performance is based on data relating to past transactions and events. Hence the statement of financial performance is of no use to an investor’s decision making process.
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