Specify, to the left of each account, the letter of the financial statement classification the account would appear in. Use only the classifications shown.

 

Balance Sheet Income and Retained Earnings Statement

a. Current Assets j. Sales Revenue

b. Investments k. Cost of Goods Sold

c. Property, Plant, and Equipment l. Operating Expenses

d. Intangible Assets m. Other Revenues and Gains

e. Other Assets n. Other Expenses and Losses

f. Current Liabilities o. Extraordinary Item

g. Long-term Debt p. Retained Earnings Section

h. Capital Stock q. Not on the Statements

i. Retained Earnings

 

 

Account balances taken from the ledger of Morin Company on December 31, 2012 follow:

 

_____ 1. Common Stock, $10 par _____ 16. Inventory

 

_____ 2. Loss on Disposal of Equipment _____ 17. Salaries and Wages Expense

 

_____ 3. Buildings _____ 18. Merchandise on order with supplier

 

_____ 4. Office Expense _____ 19. Interest Revenue

 

_____ 5. Allowance for Doubtful Accounts _____ 20. Selling Expenses

 

_____ 6. Notes Payable (Short Term) _____ 21. Interest Expense

 

_____ 7. Accum. Depreciation"Buildings _____ 22. Income Taxes Payable

 

_____ 8. Mortgage Payable due 2014 _____ 23. Insurance Expense

 

_____ 9. Depletion Expense _____ 24. Advertising Expense

 

_____ 10. Freight-Out _____ 25. Equity Investments

 

_____ 11. Sales Revenue _____ 26. Accounts Receivable

 

_____ 12. Dividends _____ 27. Land

 

_____ 13. Retained Earnings Dec. 31, _____ 28. Accounts Payable

2011

_____ 29. Error made in computing 2010

_____ 14. Cash depreciation expense

 

_____ 15. Sales Discounts _____ 30. Gain on Redemption of

Debt