Sorting Accounting Information: Income Statement

Versus Balance Sheet

Sort the following account titles according to whether they would appear on the income statement or the balance sheet:

Supplies expense

Salaries payable

Accounts payable

Cost of goods sold

Land

Trucks

Capital stock

Sales revenue

Interest earned

Interest expense

Accrued taxes payable

Tax expense

Interest payable

Retained earnings

Rent expense

Rent revenue

Cash sales

Cash

Depreciation expense

Wages expense