Question

Indicate which financial Statement will include each account listed, along with their normal balance.

Choices for Financial Statement :

Balance Sheet

Income Statement

Shareholders Equity

Comprehensive Income

		Normal Balance (Credit/Debit)
Cash and cash equivalents	B
Marketable securities	B
Accounts receivable	B
Allowance for Doubtful Accounts	B
Other current assets	B
Property, capitalized software and equipment
Accumulated depreciation	B
Goodwill	B
Intangible assets, net of accumulated amortization
Long-term investments
Deferred income taxes-asset
Equity method investments
Current portion of long-term debt	B
Accounts payable, trade
Deferred revenue
Accrued expenses and other current liabilities
Long-term debt, net
Income taxes payable
Asset Retirement Obligations
Other long-term liabilities
Common stock $.001 par value; authorized 1,600,000 shares; issued 263,502 and outstanding 76,852
Class B convertible common stock $.001 par value; authorized 400,000 shares; issued 16,157 shares and outstanding 5,789 shares
Additional paid-in capital	S
Retained earnings	B
Accumulated other comprehensive loss
Treasury stock 196,908 shares
Cash dividends
Revenue	I
Cost of revenue
Selling and marketing expense
General and administrative expense
Product development expense
Depreciation
Amortization of intangibles
Goodwill impairment
Interest expense
Other expense, net of other income
Income Tax benefit
Change in unrealized gains and losses of available-for-sale securities

Answer 1

Cash and cash equivalents	Balance Sheet	Debit
Marketable securities	Balance Sheet	Debit
Accounts receivable	Balance Sheet	Debit
Allowance for Doubtful Accounts	Balance Sheet	Credit
Other current assets	Balance Sheet	Debit
Property, capitalized software and equipment	Balance Sheet	Debit
Accumulated depreciation	Balance Sheet	Credit
Goodwill	Balance Sheet	Debit
Intangible assets, net of accumulated amortization	Balance Sheet	Debit
Long-term investments	Balance Sheet	Credit
Deferred income taxes-asset	Balance Sheet	Debit
Equity method investments	Balance Sheet	Debit
Current portion of long-term debt	Balance Sheet	Credit
Accounts payable, trade	Balance Sheet	Credit
Deferred revenue	Balance Sheet	Credit
Accrued expenses and other current liabilities	Balance Sheet	Credit
Long-term debt, net	Balance Sheet	Credit
Income taxes payable	Balance Sheet	Credit
Asset Retirement Obligations	Balance Sheet	Credit
Other long-term liabilities	Balance Sheet	Credit
Common stock $.001 par value; authorized 1,600,000 shares; issued 263,502 and outstanding 76,852	Shareholders Equity	Credit
Class B convertible common stock $.001 par value; authorized 400,000 shares; issued 16,157 shares and outstanding 5,789 shares	Shareholders Equity	Credit
Additional paid-in capital	Shareholders Equity	Credit
Retained earnings	Shareholders Equity	Credit
Accumulated other comprehensive loss
Treasury stock 196,908 shares	Shareholders Equity	Debit
Cash dividends		Debit
Revenue	Income Statement	Credit
Cost of revenue	Income Statement	Debit
Selling and marketing expense	Income Statement	Debit
General and administrative expense	Income Statement	Debit
Product development expense	Income Statement	Debit
Depreciation	Income Statement	Debit
Amortization of intangibles	Income Statement	Debit
Goodwill impairment	Income Statement	Debit
Interest expense	Income Statement	Debit
Other expense, net of other income	Income Statement	Debit
Income Tax benefit	Comprehensive Income	Credit
Change in unrealized gains and losses of available-for-sale securities	Comprehensive Income	Debit / Credit

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