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

Question

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

Quizplus · Accepted Answer

The Answer of 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

The Following Lettered Items Represent a Classification Scheme for a Multistep