Identify the financial statement (or statements) that each account would appear
ID: 2342875 • Letter: I
Question
Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Statement of Retained Earnings, B for Balance Sheet, and C for Statement of Cash Flows. (If a box is not used in the table, leave the box empty; do not select a label.)
a.
Accounts Payable
b.
Cash
c.
Common Stock
d.
Accounts Receivable
e.
Rent Expense
f.
Service Revenue
g.
Office Supplies
h.
Dividends
i.
Land
j.
Salaries Expense
a.
Accounts Payable
b.
Cash
c.
Common Stock
d.
Accounts Receivable
e.
Rent Expense
f.
Service Revenue
g.
Office Supplies
h.
Dividends
i.
Land
j.
Salaries Expense
Explanation / Answer
Remarks a. Accounts Payable Balance Sheet It will be Part of Current Liabilites in Balance sheet b. Cash Balance Sheet It will be Part of Current Assets in Balance sheet c. Common Stock Balance Sheet It will be Part of Equity in Balance sheet d. Accounts Receivable Balance Sheet It will be Part of Current Assets in Balance sheet e. Rent Expense Income Statement It will be Part of Expenses in Income statement f. Service Revenue Income Statement It will be Part of Revenue in Income statement g. Office Supplies Balance Sheet It will be Part of Current Assets in Balance sheet h. Dividends Statement of Retained Earnings It will be deducted from retained earnings i. Land Balance Sheet It will be Part of Fixed Assets in Balance sheet j. Salaries Expense Income Statement It will be Part of Expenses in Income statement