Sunday, March 21, 2021

Using the classification scheme below for a multi step income statement, match each account in the image attached with the letter of the category in which it belongs

Using the classification scheme below for a multi step income statement, match each account in the image attached with the letter of the category in which it belongs.

Net sales

Sales discounts

Cost of sales

Cost of goods sold

Selling expenses

Dividend income

General and administrative expense

Advertising expense

Other revenues and expenses

Freight out expense

Not on income statement

Prepaid insurance

 

Utilities expense

 

Sales salaries expense

 

Rent expense

 

Depreciation expense – delivery equipment

 

Interest expense

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Using the classification scheme below for a multi step income statement, match each account in the image attached with the letter of the category in which it belongs.




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