You are presented with the following list of accounts from the adjusted trial balance for merchandiser Gorman Company. Indicate in which financial statement and under what classification each of the following would be reported.
Accounts Payable
Accounts Receivable
Accumulated Depreciation—Buildings
Cash
Depreciation Expense
Equipment
Freight out
Gain on Disposal of Plant Assets
Insurance Expense
Interest Expense
Interest Payable
Inventory
Land
Accumulated Depreciation—Equipment
Advertising Expense
Buildings
Notes Payable (due in 3 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
Utilities Expense