General Mills is a manufacturer of food products, such as Lucky Charms cereal, Pillsbury crescent rolls,...

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General Mills is a manufacturer of food products, such as Lucky Charms cereal, Pillsbury crescent rolls, and Green Giant vegetables. The following items were presented in the companys financial statements For each item, select (1) the type of account and (2) whether it is reported on the income statement (/S) or balance sheet (B/S), Item (1) Type (2) Statemen 1Accounts Payable 2. Common Stock 3. Equipment 4. Accounts Receivable 5 Notes Payable 6. Cash 7. Retained Earnings 8. Office Expenses 9. Sales Revenue 10. Supplies

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Answer 1

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Statementshowing Computations
Item	Type	Statement
1) Accounts payable	Personal	BS
2) Common stock	Personal	BS
3) Equipment	Real	BS
4) Accounts receivable	Personal	BS
5) Note payable	Personal	BS
6) Cash	Real	BS
7) Retained earnings	Personal	BS
8) Office expenses	Nominal	IS
9) Sales revenue	Nominal	IS
10)Supplies	Real	BS

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General Mills is a manufacturer of food products, such as Lucky Charms cereal, Pillsbury crescent rolls,...

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