Richard Company is preparing its multiple step income statement, owner’s equity statement, and classified balance sheet. Using the column heads Account, Financial Statement, and Classification, indicate in which financial statement and under what Classification each of the following would be reported.

Account

Financial Statement

Classification

Accounts Payable

Accounts Receivable

Accumulated Depreciation—

Buildings

Cash

Casualty Loss from Vandalism

Cost of Goods Sold

Depreciation Expense

Equipment

Freight out

Insurance Expense

Interest Payable

Inventory

Land

Notes Payable (due in 5 years)

Owner’s Capital (beginning balance)

Owner’s Drawings

Property Taxes Payable

Salaries and Wages Expense

Salaries and Wages Payable

Sales Returns and Allowances

Sales Revenue

Unearned Rent Revenue

Utilities Expense