Match all of these financial statement entries to their corresponding places in

Question

Match all of these financial statement entries to their corresponding places in the Balance Sheet and Income Statement. Possible answers are: Asset, Liability, Equity, Revenue, or Expense.

$ 9,000 12,000 76,000 Balance Sheet Liabilities Accrued Interest Common Stock Equipment Accounts Receivable 32,000 Taxes Accounts Pavable Sales Trademarks Interest Retained Earnings 77,000 Cost of Goods Sold $ 62,000 Long-Term Debt Land Cash Utilities Depreciation Buildings Salaries Marketing Inventory Bank Loan Income Statement Assets Gross Profit $ 9,000 57,000 $123,000 35,000 2,000 Current Assets Current Liabilities Total Liabilities EBITDA ul EBIT S80,000 10,000 15,000 8,000 $ 3,000 $ 20,000 S 22,000 10,000 82,000 35,000 EBT Long-Term Assets Total Assets Total Equity Total Liabilities & Equit Net Income

Explanation / Answer

Solution:

Income Statement Particulars Amount Sales $123,000.00 Cost of goods sold $62,000.00 Gross Profit $61,000.00 Utilities $8,000.00 Salaries $22,000.00 Marketing $10,000.00 EBITDA $21,000.00 Depreciation $3,000.00 EBIT $18,000.00 Interest $2,000.00 EBT $16,000.00 Taxes $9,000.00 Net Income $7,000.00

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