Arises from peripheral or incidental transactions

I can’t seem to get past this particular question on my
accounting homework, any help would be extremely appreciated. Thank
you! The following questions are the ones that I cannot figure out,
they are c,g, h, i, k and l. Exercise 2-5

Your answer is partially correct. Try again.

I cant seem to get past this particular question on my
accounting homework, any help would be extremely appreciated. Thank
you!
The following questions are the ones that I cannot figure out,
they are c,g, h, i, k and l.
Exercise 2-5







Your answer is partially correct. Try again.







Identify the element or elements associated with these
items.






Items



The element



(a)

Arises from peripheral or incidental transactions.


Distributions to OwnersComprehensive
IncomeExpensesGainsInvestments by OwnersAssetsRevenues,
ExpensesLossesGains, LossesLiabilitiesEquityRevenuesInvestments by
Owners, Comprehensive Income










(b)

Obligation to transfer resources arising from a past
transaction.


AssetsInvestments by
OwnersExpensesDistributions to OwnersGainsInvestments by Owners,
Comprehensive IncomeGains, LossesRevenues,
ExpensesEquityRevenuesLossesLiabilitiesComprehensive Income










(c)

Increases ownership interest.


RevenuesLossesDistributions to
OwnersInvestments by Owners, Comprehensive IncomeInvestments by
OwnersExpensesComprehensive IncomeGains,
LossesLiabilitiesEquityAssetsGainsRevenues, Expenses










(d)

Declares and pays cash dividends to owners.


Revenues, ExpensesGains,
LossesInvestments by OwnersDistributions to
OwnersLiabilitiesComprehensive IncomeAssetsEquityInvestments by
Owners, Comprehensive IncomeExpensesGainsRevenuesLosses










(e)

Increases in net assets in a period from nonowner sources.


Gains, LossesLossesInvestments by
Owners, Comprehensive IncomeEquityDistributions to
OwnersGainsRevenues, ExpensesRevenuesInvestments by
OwnersExpensesLiabilitiesComprehensive IncomeAssets










(f)

Items characterized by service potential or future economic
benefit.


ExpensesInvestments by Owners,
Comprehensive IncomeDistributions to OwnersGainsLossesGains,
LossesComprehensive IncomeLiabilitiesAssetsRevenues,
ExpensesEquityRevenuesInvestments by Owners










(g)

Equals increase in assets less liabilities during the year,
after adding distributions to owners and subtracting investments by
owners.


EquityExpensesComprehensive
IncomeRevenuesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersGainsRevenues, ExpensesInvestments by
OwnersLossesAssetsGains, LossesLiabilities










(h)

Arises from income statement activities that constitute the
entity’s ongoing major or central operations.


LiabilitiesRevenues,
ExpensesInvestments by Owners, Comprehensive IncomeDistributions to
OwnersComprehensive IncomeExpensesEquityRevenuesInvestments by
OwnersAssetsGainsLossesGains, Losses










(i)

Residual interest in the assets of the enterprise after
deducting its liabilities.


Distributions to
OwnersLiabilitiesEquityInvestments by Owners, Comprehensive
IncomeComprehensive IncomeRevenuesAssetsRevenues,
ExpensesInvestments by OwnersExpensesGainsLossesGains, Losses










(j)

Increases assets during a period through sale of product.



ExpensesGainsEquityLiabilitiesLossesInvestments by OwnersRevenues,
ExpensesRevenuesGains, LossesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersComprehensive IncomeAssets










(k)

Decreases assets during the period by purchasing the company’s
own stock.


EquityComprehensive IncomeInvestments
by OwnersDistributions to
OwnersLossesRevenuesExpensesGainsInvestments by Owners,
Comprehensive IncomeLiabilitiesGains, LossesAssetsRevenues,
Expenses










(l)

Includes all changes in equity during the period, except those
resulting from investments by owners and distributions to
owners.


Investments by Owners, Comprehensive
IncomeComprehensive IncomeDistributions to OwnersInvestments by
OwnersLossesGains, LossesRevenuesExpensesLiabilitiesAssetsRevenues,
ExpensesEquityGains







Click if you would like to Show Work for this
question:

Open Show Work I cant seem to get past this particular question on my
accounting homework, any help would be extremely appreciated. Thank
you!
The following questions are the ones that I cannot figure out,
they are c,g, h, i, k and l.
Exercise 2-5







Your answer is partially correct. Try again.







Identify the element or elements associated with these
items.






Items



The element



(a)

Arises from peripheral or incidental transactions.


Distributions to OwnersComprehensive
IncomeExpensesGainsInvestments by OwnersAssetsRevenues,
ExpensesLossesGains, LossesLiabilitiesEquityRevenuesInvestments by
Owners, Comprehensive Income










(b)

Obligation to transfer resources arising from a past
transaction.


AssetsInvestments by
OwnersExpensesDistributions to OwnersGainsInvestments by Owners,
Comprehensive IncomeGains, LossesRevenues,
ExpensesEquityRevenuesLossesLiabilitiesComprehensive Income










(c)

Increases ownership interest.


RevenuesLossesDistributions to
OwnersInvestments by Owners, Comprehensive IncomeInvestments by
OwnersExpensesComprehensive IncomeGains,
LossesLiabilitiesEquityAssetsGainsRevenues, Expenses










(d)

Declares and pays cash dividends to owners.


Revenues, ExpensesGains,
LossesInvestments by OwnersDistributions to
OwnersLiabilitiesComprehensive IncomeAssetsEquityInvestments by
Owners, Comprehensive IncomeExpensesGainsRevenuesLosses










(e)

Increases in net assets in a period from nonowner sources.


Gains, LossesLossesInvestments by
Owners, Comprehensive IncomeEquityDistributions to
OwnersGainsRevenues, ExpensesRevenuesInvestments by
OwnersExpensesLiabilitiesComprehensive IncomeAssets










(f)

Items characterized by service potential or future economic
benefit.


ExpensesInvestments by Owners,
Comprehensive IncomeDistributions to OwnersGainsLossesGains,
LossesComprehensive IncomeLiabilitiesAssetsRevenues,
ExpensesEquityRevenuesInvestments by Owners










(g)

Equals increase in assets less liabilities during the year,
after adding distributions to owners and subtracting investments by
owners.


EquityExpensesComprehensive
IncomeRevenuesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersGainsRevenues, ExpensesInvestments by
OwnersLossesAssetsGains, LossesLiabilities










(h)

Arises from income statement activities that constitute the
entity’s ongoing major or central operations.


LiabilitiesRevenues,
ExpensesInvestments by Owners, Comprehensive IncomeDistributions to
OwnersComprehensive IncomeExpensesEquityRevenuesInvestments by
OwnersAssetsGainsLossesGains, Losses










(i)

Residual interest in the assets of the enterprise after
deducting its liabilities.


Distributions to
OwnersLiabilitiesEquityInvestments by Owners, Comprehensive
IncomeComprehensive IncomeRevenuesAssetsRevenues,
ExpensesInvestments by OwnersExpensesGainsLossesGains, Losses










(j)

Increases assets during a period through sale of product.



ExpensesGainsEquityLiabilitiesLossesInvestments by OwnersRevenues,
ExpensesRevenuesGains, LossesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersComprehensive IncomeAssets










(k)

Decreases assets during the period by purchasing the company’s
own stock.


EquityComprehensive IncomeInvestments
by OwnersDistributions to
OwnersLossesRevenuesExpensesGainsInvestments by Owners,
Comprehensive IncomeLiabilitiesGains, LossesAssetsRevenues,
Expenses










(l)

Includes all changes in equity during the period, except those
resulting from investments by owners and distributions to
owners.


Investments by Owners, Comprehensive
IncomeComprehensive IncomeDistributions to OwnersInvestments by
OwnersLossesGains, LossesRevenuesExpensesLiabilitiesAssetsRevenues,
ExpensesEquityGains







Click if you would like to Show Work for this
question:

Open Show Work

Your answer is partially correct. Try again.

Your answer is partially correct. Try again.
Your answer is partially correct. Try again.

Identify the element or elements associated with these
items.

Items

The element

(a)

Arises from peripheral or incidental transactions.

Distributions to OwnersComprehensive
IncomeExpensesGainsInvestments by OwnersAssetsRevenues,
ExpensesLossesGains, LossesLiabilitiesEquityRevenuesInvestments by
Owners, Comprehensive Income

(b)

Obligation to transfer resources arising from a past
transaction.

AssetsInvestments by
OwnersExpensesDistributions to OwnersGainsInvestments by Owners,
Comprehensive IncomeGains, LossesRevenues,
ExpensesEquityRevenuesLossesLiabilitiesComprehensive Income

(c)

Increases ownership interest.

RevenuesLossesDistributions to
OwnersInvestments by Owners, Comprehensive IncomeInvestments by
OwnersExpensesComprehensive IncomeGains,
LossesLiabilitiesEquityAssetsGainsRevenues, Expenses

(d)

Declares and pays cash dividends to owners.

Revenues, ExpensesGains,
LossesInvestments by OwnersDistributions to
OwnersLiabilitiesComprehensive IncomeAssetsEquityInvestments by
Owners, Comprehensive IncomeExpensesGainsRevenuesLosses

(e)

Increases in net assets in a period from nonowner sources.

Gains, LossesLossesInvestments by
Owners, Comprehensive IncomeEquityDistributions to
OwnersGainsRevenues, ExpensesRevenuesInvestments by
OwnersExpensesLiabilitiesComprehensive IncomeAssets

(f)

Items characterized by service potential or future economic
benefit.

ExpensesInvestments by Owners,
Comprehensive IncomeDistributions to OwnersGainsLossesGains,
LossesComprehensive IncomeLiabilitiesAssetsRevenues,
ExpensesEquityRevenuesInvestments by Owners

(g)

Equals increase in assets less liabilities during the year,
after adding distributions to owners and subtracting investments by
owners.

EquityExpensesComprehensive
IncomeRevenuesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersGainsRevenues, ExpensesInvestments by
OwnersLossesAssetsGains, LossesLiabilities

(h)

Arises from income statement activities that constitute the
entity’s ongoing major or central operations.

LiabilitiesRevenues,
ExpensesInvestments by Owners, Comprehensive IncomeDistributions to
OwnersComprehensive IncomeExpensesEquityRevenuesInvestments by
OwnersAssetsGainsLossesGains, Losses

(i)

Residual interest in the assets of the enterprise after
deducting its liabilities.

Distributions to
OwnersLiabilitiesEquityInvestments by Owners, Comprehensive
IncomeComprehensive IncomeRevenuesAssetsRevenues,
ExpensesInvestments by OwnersExpensesGainsLossesGains, Losses

(j)

Increases assets during a period through sale of product.

ExpensesGainsEquityLiabilitiesLossesInvestments by OwnersRevenues,
ExpensesRevenuesGains, LossesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersComprehensive IncomeAssets

(k)

Decreases assets during the period by purchasing the company’s
own stock.

EquityComprehensive IncomeInvestments
by OwnersDistributions to
OwnersLossesRevenuesExpensesGainsInvestments by Owners,
Comprehensive IncomeLiabilitiesGains, LossesAssetsRevenues,
Expenses

(l)

Includes all changes in equity during the period, except those
resulting from investments by owners and distributions to
owners.

Investments by Owners, Comprehensive
IncomeComprehensive IncomeDistributions to OwnersInvestments by
OwnersLossesGains, LossesRevenuesExpensesLiabilitiesAssetsRevenues,
ExpensesEquityGains

Items

The element

(a)

Arises from peripheral or incidental transactions.

Distributions to OwnersComprehensive
IncomeExpensesGainsInvestments by OwnersAssetsRevenues,
ExpensesLossesGains, LossesLiabilitiesEquityRevenuesInvestments by
Owners, Comprehensive Income

(b)

Obligation to transfer resources arising from a past
transaction.

AssetsInvestments by
OwnersExpensesDistributions to OwnersGainsInvestments by Owners,
Comprehensive IncomeGains, LossesRevenues,
ExpensesEquityRevenuesLossesLiabilitiesComprehensive Income

(c)

Increases ownership interest.

RevenuesLossesDistributions to
OwnersInvestments by Owners, Comprehensive IncomeInvestments by
OwnersExpensesComprehensive IncomeGains,
LossesLiabilitiesEquityAssetsGainsRevenues, Expenses

(d)

Declares and pays cash dividends to owners.

Revenues, ExpensesGains,
LossesInvestments by OwnersDistributions to
OwnersLiabilitiesComprehensive IncomeAssetsEquityInvestments by
Owners, Comprehensive IncomeExpensesGainsRevenuesLosses

(e)

Increases in net assets in a period from nonowner sources.

Gains, LossesLossesInvestments by
Owners, Comprehensive IncomeEquityDistributions to
OwnersGainsRevenues, ExpensesRevenuesInvestments by
OwnersExpensesLiabilitiesComprehensive IncomeAssets

(f)

Items characterized by service potential or future economic
benefit.

ExpensesInvestments by Owners,
Comprehensive IncomeDistributions to OwnersGainsLossesGains,
LossesComprehensive IncomeLiabilitiesAssetsRevenues,
ExpensesEquityRevenuesInvestments by Owners

(g)

Equals increase in assets less liabilities during the year,
after adding distributions to owners and subtracting investments by
owners.

EquityExpensesComprehensive
IncomeRevenuesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersGainsRevenues, ExpensesInvestments by
OwnersLossesAssetsGains, LossesLiabilities

(h)

Arises from income statement activities that constitute the
entity’s ongoing major or central operations.

LiabilitiesRevenues,
ExpensesInvestments by Owners, Comprehensive IncomeDistributions to
OwnersComprehensive IncomeExpensesEquityRevenuesInvestments by
OwnersAssetsGainsLossesGains, Losses

(i)

Residual interest in the assets of the enterprise after
deducting its liabilities.

Distributions to
OwnersLiabilitiesEquityInvestments by Owners, Comprehensive
IncomeComprehensive IncomeRevenuesAssetsRevenues,
ExpensesInvestments by OwnersExpensesGainsLossesGains, Losses

(j)

Increases assets during a period through sale of product.

ExpensesGainsEquityLiabilitiesLossesInvestments by OwnersRevenues,
ExpensesRevenuesGains, LossesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersComprehensive IncomeAssets

(k)

Decreases assets during the period by purchasing the company’s
own stock.

EquityComprehensive IncomeInvestments
by OwnersDistributions to
OwnersLossesRevenuesExpensesGainsInvestments by Owners,
Comprehensive IncomeLiabilitiesGains, LossesAssetsRevenues,
Expenses

(l)

Includes all changes in equity during the period, except those
resulting from investments by owners and distributions to
owners.

Investments by Owners, Comprehensive
IncomeComprehensive IncomeDistributions to OwnersInvestments by
OwnersLossesGains, LossesRevenuesExpensesLiabilitiesAssetsRevenues,
ExpensesEquityGains

Items

The element

Items
Items
The element
The element
(a)

Arises from peripheral or incidental transactions.

Distributions to OwnersComprehensive
IncomeExpensesGainsInvestments by OwnersAssetsRevenues,
ExpensesLossesGains, LossesLiabilitiesEquityRevenuesInvestments by
Owners, Comprehensive Income

(a) (a) Arises from peripheral or incidental transactions.
Distributions to OwnersComprehensive
IncomeExpensesGainsInvestments by OwnersAssetsRevenues,
ExpensesLossesGains, LossesLiabilitiesEquityRevenuesInvestments by
Owners, Comprehensive Income

(b)

Obligation to transfer resources arising from a past
transaction.

AssetsInvestments by
OwnersExpensesDistributions to OwnersGainsInvestments by Owners,
Comprehensive IncomeGains, LossesRevenues,
ExpensesEquityRevenuesLossesLiabilitiesComprehensive Income

(b) (b) Obligation to transfer resources arising from a past
transaction.
AssetsInvestments by
OwnersExpensesDistributions to OwnersGainsInvestments by Owners,
Comprehensive IncomeGains, LossesRevenues,
ExpensesEquityRevenuesLossesLiabilitiesComprehensive Income

(c)

Increases ownership interest.

RevenuesLossesDistributions to
OwnersInvestments by Owners, Comprehensive IncomeInvestments by
OwnersExpensesComprehensive IncomeGains,
LossesLiabilitiesEquityAssetsGainsRevenues, Expenses

(c) (c) Increases ownership interest.
RevenuesLossesDistributions to
OwnersInvestments by Owners, Comprehensive IncomeInvestments by
OwnersExpensesComprehensive IncomeGains,
LossesLiabilitiesEquityAssetsGainsRevenues, Expenses

(d)

Declares and pays cash dividends to owners.

Revenues, ExpensesGains,
LossesInvestments by OwnersDistributions to
OwnersLiabilitiesComprehensive IncomeAssetsEquityInvestments by
Owners, Comprehensive IncomeExpensesGainsRevenuesLosses

(d) (d) Declares and pays cash dividends to owners.
Revenues, ExpensesGains,
LossesInvestments by OwnersDistributions to
OwnersLiabilitiesComprehensive IncomeAssetsEquityInvestments by
Owners, Comprehensive IncomeExpensesGainsRevenuesLosses

(e)

Increases in net assets in a period from nonowner sources.

Gains, LossesLossesInvestments by
Owners, Comprehensive IncomeEquityDistributions to
OwnersGainsRevenues, ExpensesRevenuesInvestments by
OwnersExpensesLiabilitiesComprehensive IncomeAssets

(e) (e) Increases in net assets in a period from nonowner sources.
Gains, LossesLossesInvestments by
Owners, Comprehensive IncomeEquityDistributions to
OwnersGainsRevenues, ExpensesRevenuesInvestments by
OwnersExpensesLiabilitiesComprehensive IncomeAssets

(f)

Items characterized by service potential or future economic
benefit.

ExpensesInvestments by Owners,
Comprehensive IncomeDistributions to OwnersGainsLossesGains,
LossesComprehensive IncomeLiabilitiesAssetsRevenues,
ExpensesEquityRevenuesInvestments by Owners

(f) (f) Items characterized by service potential or future economic
benefit.
ExpensesInvestments by Owners,
Comprehensive IncomeDistributions to OwnersGainsLossesGains,
LossesComprehensive IncomeLiabilitiesAssetsRevenues,
ExpensesEquityRevenuesInvestments by Owners

(g)

Equals increase in assets less liabilities during the year,
after adding distributions to owners and subtracting investments by
owners.

EquityExpensesComprehensive
IncomeRevenuesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersGainsRevenues, ExpensesInvestments by
OwnersLossesAssetsGains, LossesLiabilities

(g) (g) Equals increase in assets less liabilities during the year,
after adding distributions to owners and subtracting investments by
owners.
EquityExpensesComprehensive
IncomeRevenuesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersGainsRevenues, ExpensesInvestments by
OwnersLossesAssetsGains, LossesLiabilities

(h)

Arises from income statement activities that constitute the
entity’s ongoing major or central operations.

LiabilitiesRevenues,
ExpensesInvestments by Owners, Comprehensive IncomeDistributions to
OwnersComprehensive IncomeExpensesEquityRevenuesInvestments by
OwnersAssetsGainsLossesGains, Losses

(h) (h) Arises from income statement activities that constitute the
entity’s ongoing major or central operations.
LiabilitiesRevenues,
ExpensesInvestments by Owners, Comprehensive IncomeDistributions to
OwnersComprehensive IncomeExpensesEquityRevenuesInvestments by
OwnersAssetsGainsLossesGains, Losses

(i)

Residual interest in the assets of the enterprise after
deducting its liabilities.

Distributions to
OwnersLiabilitiesEquityInvestments by Owners, Comprehensive
IncomeComprehensive IncomeRevenuesAssetsRevenues,
ExpensesInvestments by OwnersExpensesGainsLossesGains, Losses

(i) (i) Residual interest in the assets of the enterprise after
deducting its liabilities.
Distributions to
OwnersLiabilitiesEquityInvestments by Owners, Comprehensive
IncomeComprehensive IncomeRevenuesAssetsRevenues,
ExpensesInvestments by OwnersExpensesGainsLossesGains, Losses

(j)

Increases assets during a period through sale of product.

ExpensesGainsEquityLiabilitiesLossesInvestments by OwnersRevenues,
ExpensesRevenuesGains, LossesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersComprehensive IncomeAssets

(j) (j) Increases assets during a period through sale of product.

ExpensesGainsEquityLiabilitiesLossesInvestments by OwnersRevenues,
ExpensesRevenuesGains, LossesInvestments by Owners, Comprehensive
IncomeDistributions to OwnersComprehensive IncomeAssets

(k)

Decreases assets during the period by purchasing the company’s
own stock.

EquityComprehensive IncomeInvestments
by OwnersDistributions to
OwnersLossesRevenuesExpensesGainsInvestments by Owners,
Comprehensive IncomeLiabilitiesGains, LossesAssetsRevenues,
Expenses

(k) (k) Decreases assets during the period by purchasing the company’s
own stock.
EquityComprehensive IncomeInvestments
by OwnersDistributions to
OwnersLossesRevenuesExpensesGainsInvestments by Owners,
Comprehensive IncomeLiabilitiesGains, LossesAssetsRevenues,
Expenses

(l)

Includes all changes in equity during the period, except those
resulting from investments by owners and distributions to
owners.

Investments by Owners, Comprehensive
IncomeComprehensive IncomeDistributions to OwnersInvestments by
OwnersLossesGains, LossesRevenuesExpensesLiabilitiesAssetsRevenues,
ExpensesEquityGains

(l) (l) Includes all changes in equity during the period, except those
resulting from investments by owners and distributions to
owners.
Investments by Owners, Comprehensive
IncomeComprehensive IncomeDistributions to OwnersInvestments by
OwnersLossesGains, LossesRevenuesExpensesLiabilitiesAssetsRevenues,
ExpensesEquityGains

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a. Gains and losses
b. Liabilities
c. Investment by owners and Comprehensive Income
d. Distribution to owners
e. Comprehensive Income
f. Assets
g. Comprehensive income
h. Revenues and expenses
i. Equity
j. Revenues
k. Distribution to owners
l. Comprehensive income

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