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Indicate Whether Each of the Following Would Be Reported in the Section

Question 198

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Indicate whether each of the following would be reported in the section of financial statements identified as current assets,property, plant, and equipment,current liabilities, revenues, or expenses.

Premises:
Salaries payable
Prepaid rent
Accumulated depreciation
Advertising expense
Automobile
Unearned rent
Fees earned
Rent expense
Store supplies
Responses:
current assets
expenses
property, plant, and equipment
current liabilities
revenues

Correct Answer:

Salaries payable
Prepaid rent
Accumulated depreciation
Advertising expense
Automobile
Unearned rent
Fees earned
Rent expense
Store supplies
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