For each of the items listed below, identify the appropriate financial statement element.1. obligation to transfer cash or other resources as a result of a past transaction. 2. dividends paid by a corporation to its shareholders. 3. inflow of an asset from providing a good or service. 4. the financial position of a company. 5. increase in equity during a period from no owner transactions.6. increase in equity from peripheral or incidental transaction. 7. sale of an asset used in the operations of a business for less than the asset%u2019s book value. 8. the owners%u2019 residual interest in the assets of a company. 9. an item owned by the company representing probable future benefits. 10. revenues plus gains less expenses and losses.11. an owner%u2019s contribution of cash to a corporation in exchange for ownership shares of stock.12. outflow of an asset related to the production of revenue.

1. Obligation to transfer cash or other resources as a result of a past transaction.

Liability

2. Dividends paid by a corporation to its shareholders.

distribution to owners

3. Inflow of an asset from providing a good or service.

Revenue

4. The financial position of a company.

assets, liabilities, and owner's equity. BALANCE SHEET

5. Increase in equity during a period from no owner transactions

comprehensive income

.6. Increase in equity from peripheral or incidental transaction

Gain

7. Sale of an asset used in the operations of a business for less than the asset%u2019s book value.

Loss

8. The owners%u2019 residual interest in the assets of a company.  

equity

9. An item owned by the company representing probable future benefits.

Assets

10. Revenues plus gains less expenses and losses

net income

.11. An owner%u2019s contribution of cash to a corporation in exchange for ownership shares of stock

investment by owner

.12. Outflow of an asset related to the production of revenue.

expense

Explanation:

1. Liability  is an obligation to,or something that you owe somebody else

2. distribution to owners   is a payment of the retained earnings of a business to its owners

3. Revenue    is the income generated from normal business operations

4.  Financial position is the current balances of the recorded assets, liabilities, and equity of an organization.

5.comprehensive income  is the variation in a company's net assets from non-owner sources during a specific period

6.gain

7. Loss

 8.equity

9. Assets

10. net income

11.investment by owner

12.expense

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answersituation analysis;