Which financial statement shows cash collected from customers?
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Which of the following statements regarding financial statements is NOT correct?The statement of cash flows reports cash flows from operating, investing, and capital activities.Which of the following events increases the equity in a business?Investments from stockholdersWhich of the following forms of business organization does not protect owners from personal liability for business debts?sole proprietorshipSue Mason owns a bagel shop as a sole proprietorship. Sue includes her personal home, car, and boat on the books of her business. Which of the following is violated?Entity assumptionEnding assets for CompuHelp equal $650,000 and the beginning retained earnings balance was $325,000. If net income during the period was $225,000 and dividends were $150,000, what were ending liabilities?$250,000Barton Industries had the following asset accounts at year end: Cash= $10,000 Accounts Receivable= 2,500 Supplies= 750 Equipment= 12,000 Building= 70,000 Land= 112,000 What are Barton's total current assets?-Cash -Accounts Receivable -Supplies = $13,250Which of the following is a form of the accounting equation?Assets - Liabilities = Stockholders' EquityWhich of the following statements is correct?Financial accounting provides information for decision makers outside the entity.Which of the following is a true statement regarding ethics related to accounting?Accountants must be educated on ethics as they are very often faced with ethical decisions in pressure situations. This education could help in making the right decision.Jason Jewelers reported the following in its statement of cash flows: Net cash provided by operating activities $140,000 Net cash provided by investing activities 120,000 Net cash used by financing activities 150,000 What is the total net increase or decrease in cash reported by Jason Jewelers?Net increase of $110,000In the United States, the professional standards for accounting are referred to as _______:GAAP