Managers Often Consult Financial Statements for Specific Types of Information

question 22

Essay

Managers often consult financial statements for specific types of information. Indicate whether each of the following items would appear on the income statement, statement of owner's equity, or the balance sheet. Note that an item may appear on more than one statement. The first item is completed as an example.
$$\begin{array} { | l | l | l | l | } \hline & \begin{array} { c } \text { Income } \\\text { Statement }\end{array} & \begin{array} { l } \text { Statement of } \\\text { Owner's } \\\text { Equity }\end{array} & \text { Balance Sheet } \\\hline \text { Accounts Payable } & & & \mathrm { X } \\\hline \text { Accounts Receivable } & & & \\\hline \text { Accumulated Depreciation - Equipment } & & & \\\hline \text { Cash } & & & \\\hline \text { Depreciation Expense - Equipment } & & & \\\hline\end{array}$$
$$\begin{array} { | l | l | l | l | } \hline \text { Equipment } &\quad\quad &\quad\quad &\quad\quad \\\hline \text { Fees Income } & & & \\\hline \text { N. Dalton, Capital, beginning of period } & & & \\\hline \text { N. Dalton, Capital, end of period } & & & \\\hline \text { N. Dalton, Drawing } & & & \\\hline \text { Rent Expense } & & & \\\hline \text { Salaries Expense } & & & \\\hline \text { Supplies } & & & \\\hline \text { Supplies Expense } & & & \\\hline \text { Total assets of the business } & & & \\\hline \text { Total expenses for the period } & & & \\\hline \text { Total liabilities of the business } & & & \\\hline \text { Total revenues for the period } & & & \\\hline\end{array}$$

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Definitions:

Tibialis Posterior

A muscle located in the lower leg that helps support the arch of the foot and plays a role in walking and running.

Popliteus

A small muscle located at the back of the knee joint, important for unlocking the knee from a fully extended position.

Vastus Intermedius

A muscle located in the thigh, lying deep to the rectus femoris and part of the quadriceps femoris group, responsible for extending the knee.

Rectus Femoris

A muscle in the quadriceps group located in the thigh, responsible for extending the knee and flexing the thigh.