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Select Whether Each of the Following Would Be Reported in the Section

Question 126

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Select whether each of the following would be reported in the section of financial statements identified as (a) current asset, (b) property, plant, and equipment, (c) current liability, (d) revenue, or (e) expense:

Premises:
Fees earned
Automobile
Salaries payable
Advertising expense
Accumulated depreciation
Prepaid rent
Rent expense
Unearned rent
Store supplies
Responses:
property, plant, and equipment
revenue
current asset
current liability
expense

Correct Answer:

Fees earned
Automobile
Salaries payable
Advertising expense
Accumulated depreciation
Prepaid rent
Rent expense
Unearned rent
Store supplies
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