Which of the following is the first step in the accounting cycle?

Woods Construction has the following account balances at the end of the year: Cash $12,000; Accounts Receivable $8,000; Equipment $25,000; Accounts Payable $5,000; Common Stock $30,000; Retained Earnings $10,000. What is the total amount of assets reported on the company's balance sheet?

The income statement reveals the:

Which financial statement provides information as of a specific point in time?

The amount of cash to be reported on the balance sheet at June 30 is the:

According to U.S. GAAP, a statement of cash flows must be presented for:

Which of the following best describes what the income statement shows?

Refer to the following financial statements for Crosby Corporation: If Crosby Corporation reported total assets of \$500,000 and total liabilities of \$320,000 at year-end, what is the amount of shareholders' equity?

Which of the following lists balance sheet items in alphabetical order?