How many of the following items are found on the income statement, rather than t

Question

How many of the following items are found on the income statement, rather than the balance sheet? Sales . Notes payable (due in six months) Bonds payable (mature in 10 years) . Common stock Depreciation expense . Inventories Capital in excess of par value . Net income (earnings after taxes) , Income tax payable O Two of these items are found on the income statement. O Three of these items are found on the income statement O Four of these items are found on the income statement 0 Five of these items are found on the income statement

Explanation / Answer

Soluton for Question-1

Four of these items are found on the income Statment .

Explanation: Sales, Net Income ( Earning After Tax), Inventories ,Depreciation are shown in income statment and rest of the item shown in balance sheet.

Soluton for Question-2

Four of these items

Explanation: Account Payable, Inventory, Accrued Wages Payable, Accou nt Receivable Sales, are classifies as current assset /Current Liability.

Soluton for Question-3

Plant , Property and equipment is not classified as Current Asset.

Soluton for Question-4

All of the option influence Firm P/E Ratio

Soluton for Question-5

Earning Per Share is

Net Income minus preferred divided by number of share outstandig

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