Question

For each of the following accounts, signify which financial statement would contain the account balance.
1	Accounts recievable		Multiple Choice Answer Options:
2	Credit card expense		a.  Income statement
3	bad debt expense		b. balance sheet
4	allowance for doubtful debts		c. statement of owner's equity
5	Notes receivable (due in 180 days)
6	interest revenue
7	depreciation expense
8	building
9	equipment
10	accumulated depreciation
11	Loss of disposal of equipment
12	Gain on disposal of equipment
13	Sales revenue
14	Patent
15	Copyright
16	Amortization expense
17	estimated warranty liability (3 year warranty)
18	social security taxes payable
19	notes payable (due in 180 days)

Answer 1

Solution:

1. Accounts recievable - Balance sheet

2. Credit card expense - Income statement

3. Bad debt expense - Income statement

4. Allowance for doubtful debts - Balance sheet

5. Note receivables - Balance sheet

6. Interest revenue - Income statement

7. Depreciation expense - Income statement

8. Building - Balance sheet

9. Equipment - Balance sheet

10. Accumulated depreciation - Balance sheet

11. Loss on disposal of equipment - Income statement

12. Gain on disposal of equipment = Income statement

13. Sales revenue - Income statement

14. Patent - Balance sheet

15. Copyright - Balance sheet

16. Amortization expense - Income statement

17. Estimated warranty liability - Balance sheet

18, social security taxes payable - Balance sheet

19. notes payable (due in 180 days) - Balance sheet