Exercise 1 - elements of fs solution revised 102709

Exercise 1 - elements of fs solution revised 102709 -...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
GB 112 Review Session Financial Statements, GAAP and Transaction Analysis Exercise 1 Solution 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’ Equity Revenue Expense Balance Sheet
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Income Statement Statement of Retained Earnings Cash X X Sales Revenue X X Accounts Receivable X X Notes Payable X X Prepaid Insurance X X Insurance Expense X X Unearned Revenue X X Dividends X X Inventory X X Land X X Service Revenue X X Rent Expense X X Prepaid Rent X X Rent Payable X X Unearned Rent X X Rent Revenue X X Accounts Payable X X Equipment X X Cost of Goods Sold X X Buildings X X Wages Payable X X...
View Full Document

This note was uploaded on 02/24/2010 for the course GB 112 taught by Professor Osterheld during the Spring '10 term at Bentley.

Ask a homework question - tutors are online