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D Bowers Week 2 (1).xlsx

D Bowers Week 2 (1).xlsx - E2.16 Presented below is a list...

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E2.16 Financial Statement Classification a.Interest expense I/S E B/S A I/S E B/S A I/S E B/S A I/S R B/S L B/S A Appendix D.1 CASH Debit Credit 60,000 40,000 18,000 11,000 1,000 ACCOUNTS RECEIVABLE Debit Credit 16,000 LAND Debit Credit 40,000 Presented below is a list of financial statement accounts. Identify (a) whether the listed accounts appear on the balance sheet (B/S) or income statement (I/S) or not applicable (N/A). (b) list the account classification: assets (A), liabilities (L), shareholders' equity (SE), revenue (R), expenses (E) or not applicable (N/A) . b. Land c. Cost of goods sold d. Intangible assets e. Income tax expense f. Inventory g. Revenues h. Accounts payable i. Accounts receivable
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MILLER & CO. INCOME STATEMENT REVENUE 16,000 OPERATING EXPENSES 11,000 NET INCOME 5,000
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Financial Statement Classification I/S E B/S
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  • Spring '14
  • Balance Sheet, Generally Accepted Accounting Principles, B/S

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