Instructions: Classify each of the following account titles according to: (1) whether it belongs on the Statement of Comprehensive Income (SCI), Statement of Owner's Equity (SCE), or Statement of Financial Position (SFP) and; (2) whether it is a Revenue (R), Expenses (E), Assets (A), Liability (L) or Owner's Equity (OE) item. Item Appears on the Classified as Example: Accounts Receivable 1. Accounts Payable 2. Accumulated Depreciation - Building 3. Accrued Rent Expense 4. Advances to Employees 5. Building 6. Dividend Income 7. Freight In 8. Doubtful Accounts Expense 9. Investments in Trading Securities 10. Prepaid Insurance 11. Sewing Supplies SFP 12. Purchase Discount 13. Mortgage Payable 14. Interest Expense 15. Unearned Services Income 16. Taxes and Licenses Expense 17. Merchandise Inventory 18. Light, Power and Water Expense 19. Store Supplies 20. Jam, Drawings

Instructions: Classify each of the following account titles according to: (1) whether it belongs on the Statement of Comprehensive Income (SCI), Statement of Owner's Equity (SCE), or Statement of Financial Position (SFP) and; (2) whether it is a Revenue (R), Expenses (E), Assets (A), Liability (L) or Owner's Equity (OE) item. Item Appears on the Classified as Example: Accounts Receivable 1. Accounts Payable 2. Accumulated Depreciation - Building 3. Accrued Rent Expense 4. Advances to Employees 5. Building 6. Dividend Income 7. Freight In 8. Doubtful Accounts Expense 9. Investments in Trading Securities 10. Prepaid Insurance 11. Sewing Supplies SFP 12. Purchase Discount 13. Mortgage Payable 14. Interest Expense 15. Unearned Services Income 16. Taxes and Licenses Expense 17. Merchandise Inventory 18. Light, Power and Water Expense 19. Store Supplies 20. Jam, Drawings

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter4: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 9E: Determine on which financial statement each account listed below is reported. Use the following...

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