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The following lettered items represent a classification scheme for a multistep income

The following lettered items represent a classification scheme for a multistep income statement. In the blank next to each account, write the letter indicating to which category it belongs.

 

a. Revenues

d. General and administrative expenses

b. Cost of goods sold

e. Other revenues and expenses

c. Selling expenses

f. Not on income statement

 

_____ 1. Depreciation Expense (for delivery truck)

_____ 6. Rent Expense (for main office)

_____ 2. Dividend Income

_____ 7. Advertising Expense

_____ 3. Cash

_____ 8. Personnel Expense

_____ 4. Interest Income

_____ 9. Unearned Revenue

_____ 5. Prepaid Rent

_____ 10. Sales Returns and Allowances

Jan 11 2020 Read more Less More

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