Match each of the following accounts to the appropriate section or subsection of
ID: 2408363 • Letter: M
Question
Match each of the following accounts to the appropriate section or subsection of a multiple-step income statement as provided. Sections may be used once, more than once, or not at all.
Advertising
Dividend Revenue
Freight-In
Loss on Disposal of a Component Business
Purchase Discounts
Sales Discounts
Officers' Salaries
Freight-Out
Interest Income
Other Revenue
Discontinued Operations
General or Administrative Expenses
Cost of Goods Sold (Addition to Purchases)
Comprehensive Income
Cost of Goods Sold (Subtracted from Purchases)
Selling Expense
Selling Expense
Subtracted from Gross Revenue
Other Revenue
Discontinued Operations
Advertising
Dividend Revenue
Freight-In
Loss on Disposal of a Component Business
Purchase Discounts
Sales Discounts
Officers' Salaries
Freight-Out
Interest Income
a.Other Revenue
b.Discontinued Operations
c.General or Administrative Expenses
d.Cost of Goods Sold (Addition to Purchases)
e.Comprehensive Income
f.Cost of Goods Sold (Subtracted from Purchases)
g.Selling Expense
h.Selling Expense
i.Subtracted from Gross Revenue
j.Other Revenue
k.Discontinued Operations
Explanation / Answer
Account section Advertising selling expenses Dividend revenue Other Revenue Freight In cost of goods sold (Addition to Purchases ) Loss on Disposal of a component Business Discontinued Operations Purchase discounts cost of goods sold (Subtracted from purchases) Sales Discounts subtracted from Gross revenue Officers salaries General or Administrative Expenses Freight - Out selling Expense Interest income Other Revenue