Question

PLACE AN X UNDER THE CORRECT CLASSIFICATION AND THE CORRECT FINANCIAL STATEMENT INCOME BALANCE ASSET LIABILITY EQUITY REVENUE EXPENSE STATEMENT SHEET CASH RETAINED EARNINGS ACCOUNTS PAYABLE ACCOUNTS RECEIVABLE RENT WAGES PAYABLE WAGES EXPENSE ADVERTISING INVENTORY COST OF SALES SALES NOTES PAYABLE NOTES RECEIVABLE BONDS PAYABLE FEDERAL INCOME TAX PAYABLE COMMON STOCK EQUIPMENT DIVIDENDS LAND DEPRECIATION ACCUMULATED DEPRECIATION UNEARNED RENT GAIN ON SALE OF EQUIPMENT INTEREST EXPENSE INTEREST INCOME

Answer 1

	ASSET	LIABILITY	EQUITY	REVENUE	EXPENSE	INCOME STATEMENT	BALANCE SHEET
Cash	X						X
Retained Earnings			X				X
Accounts Payable		X					X
Accounts Receivable	X						X
Rent					X	X
Wages Payable		X					X
Wages Expense					X	X
Advertising					X	X
Inventory	X						X
Cost of sales					X	X
Sales				X		X
Notes Payable		X					X
Notes Receivable	X						X
Bonds Payable		X					X
Federal Income Tax Payable		X					X
Common Stock			X				X
Equipment	X						X
Dividends			X				X
Land	X						X
Depreciation					X	X
Accumulated Depreciation	X						X
Unearned Rent		X					X
Gain on Sale of Equipment				X		X
Interest Expense					X	X
Interest Income				X		X