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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