Question

Presented below is a list of financial statement accounts. Account Financial Statement (B/S, I/S,N/A) Nature of...

Presented below is a list of financial statement accounts.

Account Financial Statement (B/S, I/S,N/A)

Nature of Account (A, L, SE, R, E, N/A)

Equipment

Income tax expense

Inventory

Contributed Capital

Cost of Goods Sold

Accumulated Depreciation

Net change in Cash

Wage Accruals

Homework Answers

Answer #1
Account Financial Statement (B/S, I/S,N/A) Nature of Account (A, L, SE, R, E, N/A)
Equipment B/S A
Income tax expense I/S E
Inventory B/S A
Contributed Capital B/S SE
Cost of Goods Sold I/S E
Accumulated Depreciation B/S N/A
Net change in Cash B/S A
Wage Accruals B/S L
B/S REFERS TO BALANCE SHEET A REFERS TO ASSET
I/S REFERS TO INCOME STATEMENT E REFER TO EXPENDITURE
SE REFER TO STOCKHOLDERS EQUITY
L REFER TO LIABILITY
R REFER TO REVENUE
N/A REFER TO NOT APPLICABLE
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