Listed are a # of financial statement captions. Indicate in the spaces below the

Question

Listed are a # of financial statement captions. Indicate in the spaces below the (1) catagory of each item and (2) the financial statement(s) on which the item can be found.

(1) Catagory:

Assets, Liability, Owners Equity, Revenue, Expense, Gain, Loss

(2) Financial Statement:

Balance Sheet, Income Statement, Statement of Changes on Owners Equity

Unearned Revenues (1)____ (2)____

Admin. Expenses (1)____ (2)_____

Common Stock (1) _____ (2) _____

Bonds Payable (1) _____ (2) _____

Income Tax Expense (1) ____ (2) ____

Loss on sale of land (1) _____ (2) ____

Equipment (1) ____ (2) _____

Salaries Payable (1) ____ (2) ____

Merchandise inventory (1) ____ (2) ____

Prepaid Expense (1) ___ (2) ____

Explanation / Answer

unearned revenues : revenue, balanse sheet

Adminstrative expenses : Expenses, Balance sheet

Common stock : owners equity , balance sheet, statement of charges on owners equity

Bonds payable : loss , balance sheet

Income tax expense : expense , balance sheet

loss on sale of land : loss , income statement

equipment : Assests, balance sheet

salaries payable : loss, balance sheet

merchandise inventory: Assests, balance sheet

prepaid expense : expense , balance sheet

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