Principles of Managerial Finance (14th Edition) (Pearson Series in Finance)
Principles of Managerial Finance (14th Edition) (Pearson Series in Finance)
14th Edition
ISBN: 9780133507690
Author: Lawrence J. Gitman, Chad J. Zutter
Publisher: PEARSON
bartleby

Concept explainers

bartleby

Videos

Textbook Question
Book Icon
Chapter 3, Problem 3.2P

Financial statement account identification Mark each of the accounts listed in the following table as follows:

  1. a. In column (1), indicate in which statement-income statement (IS) or balance sheet (BS)-the account belongs.
  2. b. In column (2), indicate whether the account is a current asset (CA), current liability (CL), expense (E), fixed asset (FA), long-term debt (LTD), revenue (R), or stockholders’ equity (SE).
  (1) (2)
Account name Statement Type of account
Accounts payable _______ _______
Accounts receivable _______ _______
Accruals _______ _______
Accumulated depreciation _______ _______
Administrative expense _______ _______
Buildings _______ _______
Cash _______ _______
Common stock (at par) _______ _______
Cost of goods sold _______ _______
Depreciation _______ _______
Equipment _______ _______
General expense _______ _______
Interest expense _______ _______
Inventories _______ _______
Land _______ _______
Long-term debts _______ _______
Machinery _______ _______
Marketable securities _______ _______
Notes payable _______ _______
Operating expense _______ _______
Paid-in capital in excess of par _______ _______
Preferred stock _______ _______
Preferred stock dividends _______ _______
Retained earnings _______ _______
Sales revenue _______ _______
Selling expense _______ _______
Taxes _______ _______
Vehicles _______ _______
Blurred answer
Students have asked these similar questions
Financial statement account identification Mark each of the accounts listed in the following table as follows: a. In column (1), indicate in which statement-income statement (IS) or balance sheet (BS)-the account belongs. b. In column (2), indicate whether the account is a current asset (CA), current liability (CL), expense (E), fixed asset (FA), long-term debt (LTD), revenue (R), or stockholders' equity (SE). (Select from the drop-down menus.) Account Name Accounts payable (1) Statement (2) Type of Account C
Classifying Balance Sheet Accounts Use the letters a to k from the balance sheet classifications provided below to indicate the usual classification for each of the 22 balance sheet items listed below. Also indicate whether an account is a contra account.  If the item is not a contra account, select "N/A" as your answer..   Balance Sheet Classification a. Current assets. g. Long-term liabilities. b. Investments. h. Paid-in capital. c. Property, plant, and equipment. i. Retained earnings. d. Intangible assets. j. Accumulated other comprehensive income. e. Other assets. k. Noncontrolling interests. f. Current liabilities.     Balance Sheet Item Classification Contra account 1. Accumulated depreciation. Answer Answer 2. Bonds payable (due in 10 years). Answer Answer 3. Accounts payable (trade). Answer Answer 4. Investment in stock of another company (long-term holding). Answer Answer 5. Land (in use). Answer Answer 6.…
Under the column Financial Statement, choose from the list of codes below, the appropriate financial statement where the accounts listed would appear.     Financial Statement   Code     Income Statement   I/S     Balance Sheet   B/S     Statement of Owner's Equity   O/E     b.   For the column Balance Sheet Classification, choose the appropriate balance sheet classification from the list of codes below. If the account does not belong on the balance sheet, use the code n/a.     Balance Sheet Classification   Code     Current Assets   CA     Long-term Investments   LTI     Property, Plant and Equipment   PPE     Intangibles   I     Goodwill   G     Current Liabilities   CL     Non-Current Liabilities   NCL     Owner's Equity   OE     Not on the Balance Sheet   n/a         a.   b. Accounts in financial statement   Financial Statement   Balance Sheet Classification Accumulated depreciation – furniture           Interest…

Chapter 3 Solutions

Principles of Managerial Finance (14th Edition) (Pearson Series in Finance)

Knowledge Booster
Background pattern image
Finance
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, finance and related others by exploring similar questions and additional content below.
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Cornerstones of Financial Accounting
Accounting
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Cengage Learning
Text book image
Principles of Accounting Volume 1
Accounting
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax College
Text book image
College Accounting, Chapters 1-27
Accounting
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:Cengage Learning,
Text book image
Financial Accounting Intro Concepts Meth/Uses
Finance
ISBN:9781285595047
Author:Weil
Publisher:Cengage
Text book image
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cengage Learning
Text book image
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
ACCOUNTING BASICS: Debits and Credits Explained; Author: Accounting Stuff;https://www.youtube.com/watch?v=VhwZ9t2b3Zk;License: Standard Youtube License