Income Statement vs Balance Sheet

Question 1

Accrued Salaries and Wages

Answer 1

Income Statement

Question 2

Advertising Expense

Answer 2

Income Statement

Question 3

Doubtful Account Expense

Answer 3

Income Statement

Question 4

Insurance Expense

Answer 4

Income Statement

Question 5

Rent Expense

Answer 5

Income Statement

Question 6

Salaries and Wages

Answer 6

Income Statement

Question 7

Service Income

Answer 7

Income Statement

Question 8

Unearned Service Income

Answer 8

BalanceSheet

Question 9

Utilities Expense

Answer 9

Income Statement

Question 10

Accounts Payable

Answer 10

Balance Sheet

Question 11

Accounts Receivable

Answer 11

Balance Sheet

Question 12

Accumulated Depreciation (Furniture and Fixtures)

Answer 12

Balance Sheet

Question 13

Accumulated Depreciation (Equipment)

Answer 13

Balance Sheet

Question 14

Capital

Answer 14

Balance Sheet

Question 15

Cash

Answer 15

Balance Sheet

Question 16

Drawing

Answer 16

Balance Sheet

Question 17

Equipment

Answer 17

Balance Sheet

Question 18

Furniture and Fixtures

Answer 18

Balance Sheet

Question 19

Loans Payable

Answer 19

Balance Sheet

Question 20

Prepaid Rent

Answer 20

Balance Sheet

Question 21

Taxes & Licenses

Answer 21

Income Statement

Question 22

Sales Return & Allowances

Answer 22

Income Statement

Question 23

Purchases

Answer 23

Income Statement

Question 24

Purchase Return & Allowances

Answer 24

Income Statement

Question 25

Interest Income

Answer 25

Income Statement

Question 26

Accrued Salaries & Expenses

Answer 26

Balance Sheet

Question 27

Loans Payable

Answer 27

Balance Sheet

Question 28

Land

Answer 28

Balance Sheet

Question 29

Building

Answer 29

Balance Sheet

Question 30

Mortgage Payable

Answer 30

Balance Sheet

Question 31

Office Supplies

Answer 31

Balance Sheet

Question 32

Merchandise Inventory

Answer 32

Balance Sheet

Question 33

Prepaid Insurance

Answer 33

Balance Sheet