6. 170 points The following kems relate to business transactions involving K -Sw

Question

6. 170 points The following kems relate to business transactions involving K -Swiss Inc Required: 1. & 2. Select an appropriate label (account nama) for each i lom as it would be rsported in the company's financial statoments and select each item as an asset (A liability L) stockholdars revenue (R), or expense (E) a. Coins and currency b. Amounts K:Swiss owes to suppliers of watchea c Amounts K SWiss can collect from customors d. Amounts owed to bank for loan to buy building e Property on which buildings will be bult f Amounts distributed from profits to stockholders g. Amounts earned by K Swiss by selling watches h Unused paper in K:Swiss head office Cost of paper wsed up duning month l Amounts contributed by stockholders for K:Sss i ReferencesBook & Resources

Explanation / Answer

Answer:

a.Balancesheet ; Asset

b.Balance sheet ; Liability

c.Balance sheet ; Assets

d.Balance sheet ; Liability

e.Balance sheet ; Assets

f.Balance sheet ; Stockholders Equity

g.Income Statement ; Revenue

h.Balance sheet ; Asset

i.Income statement ; expense

j.Balance sheet ; Stockholders Equity

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