A company's chart of accounts includes, in part, the following account numbers and corresponding account titles:AccountNumber(1)(2)(3)(4)(5)(6)(7)(8)(9)Multiple ChoiceAccount TitleOCashiMerchandise inventory.Cost of goods soldTransportation-outWhich accounts would appear on the income statement?DividendsCommon stockSelling expenseLoss on the sale of landSalesAccount numbers 3, 4, 5, 7, and 9Account numbers 3, 5, 7, and 8Account numbers 3, 4, 7, 8, and 9Account numbers 2, 3, 7, 8, and 9

Answered: A company's chart of accounts includes,…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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A company's chart of accounts includes, in part, the following account numbers and corresponding account titles:
Account
Number
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Multiple Choice
Account Title
O
Cashi
Merchandise inventory.
Cost of goods sold
Transportation-out
Which accounts would appear on the income statement?
Dividends
Common stock
Selling expense
Loss on the sale of land
Sales
Account numbers 3, 4, 5, 7, and 9
Account numbers 3, 5, 7, and 8
Account numbers 3, 4, 7, 8, and 9
Account numbers 2, 3, 7, 8, and 9

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Step 1

INCOME STATEMENT

income statement is one of the importance Financial Statement of the Company. it Include Total Revenue From Operation & Total Expenses related to Business Operation. The end result of the income statement is either profit or Loss. Profit & Loss is Computed by Deducting Total Expenses related to Business Operation from Total Revenue From Operation

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