The Following Lettered Items Represent a Classification Scheme for a Multistep

Question 154
Essay

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 b. Cost of goods sold c. Selling expenses d. General and administrative expenses e. Other revenues and expenses f. Not on income statement _____ 1. Depreciation Expense (for delivery truck) _____ 2. Dividend Income _____ 3. Cash _____ 4. Interest Income _____ 5. Prepaid Rent _____ 6. Rent Expense (for main office) _____ 7. Advertising Expense _____ 8. Personnel Expense _____ 9. Unearned Revenue _____ 10. Sales Discounts