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 |
Interest Payable |
|
Accounts Receivable |
Land |
|
Accumulated Depreciation—Office Building |
Merchandise Inventory |
|
Accumulated Depreciation—Store Equipment |
Notes Payable (due in 3 years) |
|
Advertising Expense |
Office Building |
|
Depreciation Expense |
Property Tax Payable |
|
B. Gorman, Capital |
Salaries Expense |
|
B. Gorman, Drawing |
Salaries Payable |
|
Cash |
Sales Returns and Allowances |
|
Freight out |
Store Equipment |
|
Gain on Sale of Equipment |
Sales Revenue |
|
Insurance Expense |
Utilities Expense |
|
Interest Expense |