Financial Statement Review Flashcards
1
Q
Accounts Payable
A
Current Liability, B.S.
2
Q
Accounts Receivable
A
Current Asset, B.S.
3
Q
Accumulated Appreciation- Equipment
A
Contra Long-Term Asset, B.S.
4
Q
Accumulated Depreciation- Building
A
Contra Long-term Asset, B.S.
5
Q
Allowance for Doubtful Accounts
A
Contra Current Asset, B.S.
6
Q
Equipment
A
Long-Term Asset, B.S.
7
Q
Building
A
Current (Plant) Asset, B.S.
8
Q
Cash
A
Current Asset, B.S.
9
Q
Cost of goods sold
A
Expense, I.S.
10
Q
Interest expense
A
Expense, I.S.
11
Q
Interest payable
A
Current liability, B.S.
12
Q
Interest revenue
A
Other, I.S.
13
Q
Interest receivable
A
Current asset, B.S.
14
Q
Gain on sale of…
A
Other, I.S.
15
Q
Loss on sale of…
A
Other, I.S.
