Essay
Identify each of the following items relating to sections of an income statement as Revenue from Sales (S), Cost of Goods Sold (CGS), Selling Expenses (SE), General Expenses (GE), Other Income (OI), or Other Expenses (OE).
____Purchases Discounts
____Delivery Expense
____Depreciation Expense, Equipment
____Freight In
____Interest Income ____Sales Returns and Allowances
____Office Salary Expense
____Goods Available for Sale
____Cash Over and Short (credit balance)
____Sales Commissions Expense
Correct Answer:

Verified
Correct Answer:
Verified
Q2: Net Sales is<br>A) Sales + Sales Returns
Q3: Identify each of the following items relating
Q4: The calculation of the cost of goods
Q5: A decrease in Rent Expense results in
Q6: What would be an appropriate account number
Q8: An increase in Rent Expense results in
Q9: Current Assets consist of all of the
Q10: The following accounts are from the
Q11: Working capital is equal to total assets
Q12: An example of Other Income for a