Question

fill in the blanks.

1. the statement of financial position is also known as a(n) ?

2. the inventory account is found on the ?

3. net sales less cost of goods sold yields ?

4. prepaid expenses are a ?

5. which of the following accounts represents the market value of the company ?

6. capital stock is found on the ?

7. the wages accrual adjusting entry credits a liability account and debits.

8. if a liability increases, then.

9. if an owners equity account increases then...

10. blue talon llc purchased a three year insurance policy for $3000. at the end of the first year, blue talon adjusts insurance expense by crediting.

Answer 1

1. the statement of financial position is also known as a(n) ?.......... Balance sheet

2. the inventory account is found on the ? Current Assets Section of Balance sheet

3. net sales less cost of goods sold yields ? Gross profit or Gross Margin

4. prepaid expenses are a ? Current asset

5. which of the following accounts represents the market value of the company ?   

Question is incomplete. .... Give the options in the comment. ...... I Can help you.

6. capital stock is found on the ? Shareholders Equity section in Balance sheet

7. the wages accrual adjusting entry credits a liability account and debits Wage Expenses .

8. if a liability increases, then. Asset also increases or another liability decreases

9. if an owners equity account increases then.. Assets Increases

10. blue talon llc purchased a three year insurance policy for $3000. at the end of the first year, blue talon adjusts insurance expense by crediting. Insurance Expenses a/c