Exercise 1 - elements of fs

Exercise 1 - elements of fs - Equity Revenue Expense...

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GB 112 Review Session Financial Statements, GAAP and Transaction Analysis Exercise 1 For each item listed below indicate (use the first two items as examples): (1) whether it is an asset, liability, stockholders’ equity, revenue or expense (2) which financial statement it appears on – Balance Sheet, Income Statement or Statement of Retained Earnings Item Asset Liability Stock- holders’
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Unformatted text preview: Equity Revenue Expense Balance Sheet Income Statement Statement of Retained Earnings Cash X X Sales Revenue X X Accounts Receivable Notes Payable Prepaid Insurance Insurance Expense Unearned Revenue Dividends Inventory Land Service Revenue Rent Expense Prepaid Rent Rent Payable Unearned Rent Rent Revenue Accounts Payable Equipment Cost of Goods Sold Buildings Wages Payable...
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