The following accounts appeared in recent financial statementsof Continental Airlines:Accounts Payable Flight EquipmentAir Traffic Liability Landing FeesAircraft Fuel Expense Passenger RevenueCargo and Mail Revenue Purchase Deposits for Flight EquipmentCommissionsSpare Parts and SuppliesIdentify each account as either a balance sheet account or an income statement account. For each balance sheet account, identify it as an asset, a liability, or owner’s equity. For each income statement account, identify it as a revenue or an expense.

Classify each of the following accounts as to whether it appears on the income statement (IS), the balance sheet (BS) or owner’s equity statement (OE) _____1.      Merchandise Inventory                     _____ 6.  Int.  Revenue               ____11. Wales, Drawing   _____2.      Accumulated Depreciation—Truck   _____ 7.  Interest Receivable      ____12. Wales, Capital   _____3.      Depreciation Expense                      _____ 8.  Notes Receivable        ____13. Sales Discounts   _____4.      Cost of Goods Sold                        _____ 9. Interest Expense        ____14. Prepaid Insurance   _____5.      Unearned Revenue                        _____10. Freight Out               _____15. Sales

Could anyone explain this question? indicate the financial statement on which the account’s balance should be found. Also, if the account is shown on a company’s balance sheet, indicate if it should appear in the asset section, liability section, retained earnings section, income section, or stockholders’ equity section.  Accounts Receivable Note Receivable Discount on Note Receivable Bank Service Charge Expense Bad Debts Expense Sales Return Liability Interest Revenue Allowance for Doubtful Accounts Cash Over/ Short Interest Receivable Sales Returns and Allowances

When a company expenses the cost of maintenance for its heating and cooling system, thatcost will appear on itsa. Income statement.b. Statement of retained earnings.c. Balance sheet.d. Statement of stockholders’ equity.

The amount found in the Income Statement debit column on the worksheet for Income Summary is​ the:   A.ending inventory.   B.beginning inventory.   C.total amount of expenses.   D.total amount of revenues.

What does each account fall under financial statement, major classification, and possible account number?

On a multiple step income statement, the account interest expense would be located under A) Net sales B) COGS C)  Other Revenues and expenses

For each of the following, indicate whether the item would be reported on the balance sheet (B/S),reported on the income statement (I/S), or not shown in the financial statements (Not) and whetherit relates to a service company (SC) or merchandising company (MC).Financial Statement Type of CompanyInventorySales RevenueCost of Goods Available for SaleService Revenue