F3 Questions

[Deepak82]

Try to solve this question to enhance your knowledge about the subject. I will post the answer shortly to this thread.

The financial statement that includes classifications for operating, financing, and investing activities of a business entity for a period of time is called the

(A) Statement of Retained Earnings
(B) Statement of Changes in Owners’ Equity
(C) Statement of Cash Flows
(D) Statement of Financial Position (balance sheet)
(E) Statement of Comprehensive Income (income statement)

[Davina411]

i Think the answer is C

[nu_andr]

the correct answer is C

[teratsi]

C. no doubt

[Poonam]

Hello students,

I am posting answer to the previous questions. You have all answed it right. The answer is no doubt (C) Statement of Cash Flows. Thank you for the participation.Please refer to the new thread on the topic inventory.

[HILARY JACK MLILO]

the answer is C.

[ABBAS ALI]

C is answer

Guys explain what the other option show?

[Dandy Egharevba]

The following errors were made:
Discount allowed $333 was credited to discount allowed account.
Discount received $222 was debited to discount allowed account.
Question:which journal entry will correct these errors?
Please.......with explanation on how to journalize errors of this kind.
Dandy.

[ABBAS ALI]

By reverse the entry. Debit discount allowed and Credit Discount Received.