Annual reports normally include anincome statement, a statement of changes in st

Question

Annual reports normally include anincome statement, a statement of changes in stockholders’equity, a balance sheet, and a statement of cash flows.

Required

Identify the financial statementson which each of the following titles or accounts would appear. Ifit appears on both indicate either, if it does not appear on eitherindicate none of the above.

16. Common Stock                    _____

     a.   Balance Sheet

      b.   Statement of Changesin Stockholders’ Equity

      c.   Either of theabove.

      d.   None of theabove.

17. Land                                    _____

     a.   Income Statement

      b.   Balance Sheet

      c.   Either of theabove.

      d.   None of theabove.

18. Financing Activities               ______

     a.   Statement of Changesin Stockholders’ Equity

      b.   Statement of CashFlows

      c.   Either of theabove.

      d.   None of theabove.

Explanation / Answer

16. C. either of the above. Common stock appears in balance sheet and statement of changes instockholders equity 17.B. Balance sheet Land is an asset and appears in balance sheet only 18.B. Statement of cash flows. Cash flow statement has three activities as operating , investingand financing activities.

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