Question

For each of the following item below, indicate to which category of elements of financial statements it belongs.a. Retained earnings. e. Depreciation h. Dividendsb. Sales f. Loss on Sale of equipment i. Gain on sale of investmentc.Additional paid-in capital g. Interest payable j. Issuance of common stockd. inventory

Answer 1

Answer:

Explanation:

A. Retained earnings - Equity

B. Sales - Revenue

C. Additional paid-in capital - Equity

D. lnventory - Asset

E. Depreciation - Expense

F. Loss on Sale of equipment - Expense

G. Interest payable - Liability

H. Dividends - Equity

l. Gain on sale of investment - Revenue

J. Issuance of common stock - Equity