Which statement will each of the following appear on Income statement, Balance s

Question

Which statement will each of the following appear on Income statement, Balance sheet, or Neither?

a. Net income

b. Cost of goods sold
c. Gross profit
d. Retained earnings
e. Paid-in capital in excess of par
f. Sales
g. Supplies expense
h. Investment in G. Company
i. Dividends
j. Inventory
k. Common stock

l. Interest payable

m. Loss from flood
n. Land
o. Taxes payable
p. Interest income
q. Gain on sale of property
r. Dividend income
s. Depreciation expense
t. Accounts receivable
u. Accumulated depreciation
v. Sales commissions

Explanation / Answer

Particulars Comments a. Net income Income statement b. Cost of goods sold Income statement c. Gross profit Income statement d. Retained earnings Balance sheet e. Paid-in capital in excess of par Balance sheet f. Sales Income statement g. Supplies expense Income statement h. Investment in G. Company Balance sheet i. Dividends Neither j. Inventory Balance Sheet k. Common stock Balance Sheet l. Interest payable Balance Sheet m. Loss from flood Income statement n. Land Balance sheet o. Taxes payable Balance sheet p. Interest income Income statement q. Gain on sale of property Income statement r. Dividend income Income statement s. Depreciation expense Income statement t. Accounts receivable Balance sheet u. Accumulated depreciation Balance sheet v. Sales commissions Income statement

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