Saturday, July 3, 2010

Mark each of the accounts listed in the following table as follows

Finance 419 (FIN 419)
Business Finance

Principles of Managerial Finance

Brief Fourth 4th Edition
Lawrence J. Gitman

Prepare responses to the following problems from the text:

Chapter 2

P2-2. LG 1: Financial Statement Account Identification

Mark each of the accounts listed in the following table as follows:
a. In column (1), indicate in which statement-income statement (IS) or balance sheet (BS)-the account belongs.
b. In column (2), indicate whether the account is a current asset (CA), current liability (CL), expense (E), fixed asset (FA), long-term debt (LTD), revenue(R), or stockholders' equity (SE).

(1) (2)
Account name Statement Type of account
Accounts payable _______ _______
Accounts receivable _______ _______
AND SO ON

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