Question

Listed here are a number of financial statement captions. Indicate in the spaces to the right of each caption the category of each item and the financial statement(s) on which the item can usually be found. Use the following abbreviations:
Category Financial Statement
Asset A Balance sheet BS
Liability L Income statement IS
Stockholders' equity SE
Revenue R
Expense E
Gain G
Loss LS
Contra asset CA
Caption Category Financial Statement(s)
Accumulated depreciation
Long-term debt
Equipment
Loss on sale of short-term investments
Net income
Merchandise inventory
Other accrued liabilities
Dividends paid
Cost of goods sold
Additional paid-in capital
Interest income
Selling expenses
Financial statements:
There are four financial statements companies produce:
Income Statement
Balance Sheet
Shareholder's Equity
Statement of Cash Flows

Answer 1

Answer:

Caption                                         Category                 Financial Statement

Accumulated depreciation           Asset                       Balance sheet  

Long-term debt                             Liability                    Balance sheet

Equipment                                    Asset                        Balance sheet

Loss on sale                                 Loss                          Income Statement

of short-term investments      

Net income                                 Revenue                    Income Statement  

Merchandise inventory              Asset                         Balance sheet

Other accrued liabilities             Liability                      Balance sheet

Dividends paid                            Equity                         Balance sheet

Cost of goods sold                     Expense                     Income statement

Additional paid-in capital           Equity                         Balance sheet

Interest income                            Revenue                   Income statement

Selling expenses                        Expense                     Income statement