Chapter 1, Problem 1.5ME

Matching Financial Statement Items to Balance Sheet and Income Statement Categories

For each item, indicate (1) whether it is reported on the income statement (I/S) or balance sheet (B/S) and (2) the type of account (A = asset, L = liability, SE = stockholders’ equity, R = revenue. E = expense).

Item	(1) Statement	(2) Account Type
1. Accounts Receivable
2. Sales Revenue
3. Equipment
4. Supplies Expense
5. Cash
6. Advertising Expense
7. Accounts Payable
8. Retained Earnings