Identify each of the following items as revenues, expenses, or dividends from the drop down provided. 1. Cost of sales 2. Service revenue 3. Wages expense 4. Cash dividends 5. Rent expense 6. Rental revenue 7. Insurance expense 8. Consulting revenue

Identify each of the following items as revenues, expenses, or dividends from the drop down provided. 1. Cost of sales 2. Service revenue 3. Wages expense 4. Cash dividends 5. Rent expense 6. Rental revenue 7. Insurance expense 8. Consulting revenue

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter12: Fainancial Statement Analysis

Section: Chapter Questions

Problem 32MCQ

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Identify each of the following items as revenues, expenses, or dividends from the drop down provided.
1.
Cost of sales
2. Service revenue
3. Wages expense
4.
Cash dividends
5.
Rent expense
6.
Rental revenue
7.
Insurance expense
8. Consulting revenue

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