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Listed Below Are a Number of Financial Statement Captions

Question 44

Essay

Listed below are a number of financial statement captions.Indicate in the spaces to the right of each caption (1)the category of each item, and (2)the financial statement on which the item can usually be found.
 Category  Financial Statement  Asset  A  Balance sheet  BS  Liability  L  Income statement  IS  Stockholders’ Equity  SE  Revenue  R  Expense  E  Gain  G  Loss  LS \begin{array} { l l l l } { \text { Category } } && { \text { Financial Statement } } \\\text { Asset } & \text { A } & \text { Balance sheet } & \text { BS } \\\text { Liability } & \text { L } & \text { Income statement } & \text { IS } \\\text { Stockholders' Equity } & \text { SE } & & \\\text { Revenue } & \text { R } & & \\\text { Expense } & \text { E } & & \\\text { Gain } & \text { G } & & \\\text { Loss } & \text { LS } & &\end{array} (1)(2) Accounts receivable Cost of goods sold Retained earnings  Interest revenue Loss on sale of building  Notes payable  Additional paid-in capital  Equipment Short-term debt General expense \begin{array}{lcc}&(1)&(2)\\ \text { Accounts receivable} &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Cost of goods sold} &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Retained earnings } &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Interest revenue} &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Loss on sale of building } &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Notes payable } &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Additional paid-in capital } &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Equipment} &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { Short-term debt} &\underline{\quad\quad}&\underline{\quad\quad}\\ \text { General expense } &\underline{\quad\quad}&\underline{\quad\quad} \\\end{array}

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\[\begin{array} { | l | c | c | }
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