E2-5
f. Items characterized by service potential or future economic benefit
Assets
g. Equals increase in assets less liabilities during the year, after adding distributions to owners and subtracting investments by owners.
Comprehensive Income
l. Includes all changes in equity during the period, except those resulting from investments by owners and distributions to owners.
Comprehensive Income
e. increases in net assets in a period from non-owner resources
Comprehensive income (also possible would be revenue and gains)
d. Declares and pays cash dividends to owners
Distribution to owners
k. Decreases assets during the period by purchasing the company's own stock.
Distribution to owners
i. Residual interest in the assets of the enterprise after deducting its liabilities.
Equity
a. Arises from peripheral or incidental transactions
Gaines, losses
c. Increases ownership interest
Investments by owners comprehensive income (also possible would be revenues and gains)
b. Obligation to transfer resources arising from a past transaction
Liabilities
j. Increases assets during a period through sale of product.
Revenues
h. Arises from income statement activities that constitute the entity's ongoing major or central operations
Revenues, expenses