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