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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![Problem 2-3 Classification of Accounts: Income Statement
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. Unearned Revenues
4. Sales Retums and Allowances
5. Cost of Sales
6. Depreciation Expense
7. Investment Income
8. Owner's Capital
9. Repair Revenues
10. Fuel Expense](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F89da0d09-5af4-46b8-aeb9-fe57ae110b6d%2F07785460-5b26-46ad-a7e8-bd2d9444c134%2Fe13xy2_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 2-3 Classification of Accounts: Income Statement
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. Unearned Revenues
4. Sales Retums and Allowances
5. Cost of Sales
6. Depreciation Expense
7. Investment Income
8. Owner's Capital
9. Repair Revenues
10. Fuel Expense
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