Classify the Following Statement of Financial Position Accounts for White

question 36

Essay

Classify the following statement of financial position accounts for White Goose Linen Co. $$\begin{array} { | l | l | } \hline \underline{\quad\quad}& \text { a. Investments in associates } \\ \hline\underline{\quad\quad} & \text { b. Retained Earnings } \\\hline \underline{\quad\quad} & \text { c. } \text { Notes Payable due in } 3 \text { months } \\\hline \underline{\quad\quad} & \text { d. Land } \\\hline\underline{\quad\quad} & \text { e. Short-term investments } \\\hline\underline{\quad\quad} & \text { f. Bonds Payable } \\\hline \underline{\quad\quad} & \text { g. Supplies } \\\hline \underline{\quad\quad}& \text { h. Share Capital } \\\hline\underline{\quad\quad} & \text { i. Notes Payable due in 5 years } \\\hline \underline{\quad\quad}& \text { j. Income Taxes Payable } \\\hline \end{array}$$

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Definitions:

Financing Activities

Transactions that involve raising capital and repaying investors, including issuing equity, obtaining loans, and repaying debt.

Statement of Cash Flows

The statement of cash flows is a financial report that shows how changes in balance sheet accounts and income affect cash and cash equivalents, breaking the analysis down to operating, investing, and financing activities.

Balance Sheet

A report detailing a company's assets, liabilities, and equity of shareholders at a given moment.