Table of contents

1. Introduction to Accounting1h 21m
2. Transaction Analysis1h 13m
3. Accrual Accounting Concepts2h 38m
4. Merchandising Operations2h 30m
5. Inventory1h 55m
6. Internal Controls and Reporting Cash1h 16m
7. Receivables and Investments3h 8m
8. Long Lived Assets5h 1m
9. Current Liabilities2h 19m
10. Time Value of Money1h 23m
- Time Value of Money Equations
  35m
- Using Time Value of Money Tables
  47m
11. Long Term Liabilities2h 45m
12. Stockholders' Equity2h 15m
13. Statement of Cash Flows2h 24m
14. Financial Statement Analysis5h 25m
15. GAAP vs IFRS56m

1. Introduction to Accounting

The Financial Statements

Financial Accounting

1. Introduction to Accounting

The Financial Statements

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Multiple Choice

The statement of stockholders' equity reports changes in which of the following amounts?

Common stock and retained earnings

Total assets and total liabilities

Revenues and expenses

Cash and cash equivalents

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Verified step by step guidance

Understand the purpose of the statement of stockholders' equity: It is a financial statement that shows changes in the equity section of the balance sheet over a specific period. This includes changes in common stock, retained earnings, and other equity components.

Identify the components of stockholders' equity: Stockholders' equity typically includes common stock, retained earnings, additional paid-in capital, treasury stock, and accumulated other comprehensive income.

Analyze the options provided: The statement of stockholders' equity does not report changes in total assets and total liabilities, revenues and expenses, or cash and cash equivalents. These are reported in other financial statements such as the balance sheet, income statement, and cash flow statement.

Focus on the correct components: The statement of stockholders' equity specifically tracks changes in common stock and retained earnings, as these are part of the equity section of the balance sheet.

Conclude the reasoning: Based on the analysis, the correct answer is 'Common stock and retained earnings,' as these are the amounts reported in the statement of stockholders' equity.