Question

Match the account name with the correct financial statement and section that the account name can be found on.

Balance Sheet - Current Asset

Balance Sheet - Non Current Asset

Balance Sheet - Current Liability

Balance Sheet - Non Current Liability

Balance Sheet - Equity

Income Statement - Revenue

Income Statement - Operating Expenses

Income Statement - Other

Questions:

Property Tax Expense

Furniture and Fixtures

Buildings

Service Revenues

Marketable Securities

Accounts Payable

Travel Expenses

Patents

Wages Payable

Supplies

Deferred Revenue - Long Term

Customer Deposits - Current Portion

Salary Expense

Wage Expense

Short Term Investments

Allowance for Doubtful Accounts

Sales

Sales Discounts

Repairs & Maintenance Expense

Advertising Expense

Unrealized Gain on Sale

Current Portion of Debt Payable

Additional Paid in Capital - Treasury Stock

Unrealized Loss on Sale

Payroll Tax Expense

Inventories

Treasury Stock

Salaries Payable

Vehicles

Legal Expenses

Loss On Sale

Sales Returns

Insurance Expense

Utilities Expense

Computers

Goodwill

Fees Earned

Accrued Liabilities - Short Term

Capital Stock

Premium on Bonds - Long Term

Additional Paid in Capital - Common Stock

Preferred Stock

Discount on Bonds - Long Term

Cash

Bonds Payable - Long Term Portion

Leasehold Improvements

Interest Expense

Sales Tax Payable

Warranties Payable - Short Term Portion

Accumulated Depreciation

Sales Allowances

Rent Expense

Depreciation Expense

Cost Of Goods Sold

Common Stock

Contributed Capital

Long Term Investments

Entertainment Expense

Land

Meals Expense

Unearned Revenue - Current Portion

Notes Payable - Long Term Portion

Intellectual Property

Retained Earnings

Unearned Revenue - Long term Portion

Accounts Receivable

Income Tax Payable

Gain On Sale

Interest Income

Revenues

Answer 1

Property Tax Expense - BALANCE SHEET CURRENT LIABILITY

Furniture and Fixtures- BALANCE SHEET CURRENT ASSET

Buildings- BALANCE SHEET NON CURRENT ASSET

Service Revenues - INCOME STATEMENT OPERATING REVENUE ( If the business is in service sector)

Marketable Securities -BALANCE SHEET CURRENT ASSET

Accounts Payable -BALANCE SHEET CURRENT LIABILITY ( IF LESS THAN 1 YEAR)

Travel Expenses- INCOME STATEMENT OTHER EXPENSES

Patents- BALANCE SHEET NON CURRENT ASSET

Wages Payable- BALANCE SHEET CURRENT LIABILITY

Supplies- INCOME STATEMENT OPERATING EXPENSE

Deferred Revenue - Long Term. BALANCE SHEET NON CURRENT LIABILITY

Customer Deposits - Current Portion. BALANCE SHEET CURRENT LIABILITY

Salary Expense- INCOME STATEMENT OTHER EXPENSE

Wage Expense - INCOME STATEMENT OPERATING EXPENSE

Short Term Investments - BALANCE SHEET CURRENT ASSETS

Allowance for Doubtful Accounts- BALANCE SHEET CURRENT LIABILITY ( USUALLY DEDUCTED FROM ACCOUNTS PAYABLE)

Sales- INCOME STATEMENT REVENUE

Sales Discounts INCOME STATEMENT OTHER EXPENSE

Repairs & Maintenance Expense - INCOME STATEMENT OPERATING EXPENSE

Advertising Expense- INCOME STATEMENT OTHER EXPENSE

Unrealized Gain on Sale- INCOME STATEMENT OTHER REVENUE

Current Portion of Debt Payable- BALANCE SHEET CURRENT LIABILITY

Additional Paid in Capital - Treasury Stock- BALANCE SHEET EQUITY

Unrealized Loss on Sale- INCOME STATEMENT OTHER

Payroll Tax Expense- INCOME STATEMENT OTHER EXPENSE

Inventories- BALANCE SHEET CURRENT ASSET

Treasury Stock- BALANCE SHEET EQUITY

Salaries Payable- BALANCE SHEET CURRENT LIABILITY

Vehicles - BALANCE SHEET NON CURRENT ASSET

Legal Expenses- INCOME STATEMENT OTHER EXPENSE

Loss On Sale- INCOME STATEMENT OTHER

Sales Returns - INCOME STATEMENT OTHER

Insurance Expense - INCOME STATEMENT OTHER EXPENSE

Utilities Expense- INCOME STATEMENT OPERATING EXPENSES

Computers- BALANCE SHEET NON CURRENT ASSET

Goodwill - BALANCE SHEET NON CURRENT ASSET

Fees Earned- INCOME STATEMENT OPERATING REVENUE ( IF THE FEES IS EARNED FROM OPERATION)

Accrued Liabilities - Short Term- BALANCE SHEET CURRENT LIABILITIES

Capital Stock- BALANCE SHEET EQUITY

Premium on Bonds - Long Term. INCOME STATEMENT OTHER

Additional Paid in Capital - Common Stock. BALANCE SHEET EQUITY

Preferred Stock. BALANCE SHEET EQUITY

Discount on Bonds - Long Term. INCOME STATEMENT OTHER

Cash- BALANCE SHEET CURRENT ASSET

Bonds Payable - Long Term Portion. BALANCE SHEET NON CURRENT LIABILITY.

Leasehold Improvements. BALANCE SHEET NON CURRENT ASSET

Interest Expense. INCOME STATEMENT OTHER EXPENS

Sales Tax Payable. BALANCE SHEET CURRENT LIABILITY ( Assumed that it is due and not paid and hence, carried forward to the next year. If it is paid it would appear in income statement)

Warranties Payable - Short Term Portion- BALANCE SHEET CURRENT LIABILITY

Accumulated Depreciation. BALANCE SHEET NON CURRENT LIABILITY

Sales Allowances. INCOME STATEMENT OTHER EXPENSE

Rent Expense- INCOME STATEMENT OPERATING EXPENSE

Depreciation Expense-INCOME STATEMENT OPERATING EXPENSE

Cost Of Goods Sold- INCOME STATEMENT OTHER

Common Stock- BALANCE SHEET EQUITY

Contributed Capital- BALANCE SHEET EQUITY

Long Term Investments- BALANCE SHEET NON CURRENT ASSETS

Entertainment Expense- INCOME STATEMENT OTHER EXPENSE

Land- BALANCE SHEET NON CURRENT ASSET

Meals Expense. INCOME STATEMENT OTHER EXPENSE

Unearned Revenue - Current Portion. BALANCE SHEET CURENT LIABILITY

Notes Payable - Long Term Portion. BALANCE SHEET CURRENT LIABILITY

Intellectual Property. BALANCE SHEET NON CURRENT ASSET

Retained Earnings. BALANCE SHEET EQUITY

Unearned Revenue - Long term Portion BALANCE SHEET NON CURRENT LIABILITY

Accounts Receivable -BALANCE SHEET CURRENT ASSET

Income Tax Payable- BALANCE SHEET CURRENT LIABILITY

Gain On Sale. INCOME STATEMENT REVENUE

Interest Income. INCOME STATEMENT OTHER REVENUE

Revenues. INCOME STATEMENT