Tell whether each of the following accounts is part of net sales, cost of goods sold, operating expenses, or other revenues and expenses, or is not on the income statement: 1. Delivery Expense 2. Interest Expense 3. Uneamed Revenues 4. Sales Returns and Allowances 5. Cost of Sales 6. Depreciation Expense 7. Investment Income 8. Owner's Capital 9. Repair Revenues 10. Fuel Expense

Tell whether each of the following accounts is part of net sales, cost of goods sold, operating expenses, or other revenues and expenses, or is not on the income statement: 1. Delivery Expense 2. Interest Expense 3. Uneamed Revenues 4. Sales Returns and Allowances 5. Cost of Sales 6. Depreciation Expense 7. Investment Income 8. Owner's Capital 9. Repair Revenues 10. Fuel Expense

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter12: Financial Statements, Closing Entries, And Reversing Entries

Section: Chapter Questions

Problem 3E: Identify each of the following items relating to sections of an income statement as Revenue from...

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Identify each of the following items relating to sections of an income statement as Revenue from Sales (S), Cost of Goods Sold (CGS), Selling Expenses (SE), General Expenses (GE), Other Income (OI), or Other Expenses (OE). a. Utilities Expense b. Advertising Expense c. Purchases Discounts d. Sales Returns and Allowances e. Interest Income f. Freight In g. Depreciation Expense, Equipment h. Interest Expense i. Rent Expense j. Sales
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