Principles of Managerial Finance (14th Edition) (Pearson Series in Finance)
14th Edition
ISBN: 9780133507690
Author: Lawrence J. Gitman, Chad J. Zutter
Publisher: PEARSON
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Chapter 3, Problem 3.2P
Financial statement account identification Mark each of the accounts listed in the following table as follows:
- a. In column (1), indicate in which statement-income statement (IS) or
balance sheet (BS)-the account belongs. - b. In column (2), indicate whether the account is a current asset (CA), current liability (CL), expense (E), fixed asset (FA), long-term debt (LTD), revenue (R), or stockholders’ equity (SE).
| (1) | (2) | |
| Account name | Statement | Type of account |
| Accounts payable | _______ | _______ |
| Accounts receivable | _______ | _______ |
| Accruals | _______ | _______ |
| Accumulated |
_______ | _______ |
| Administrative expense | _______ | _______ |
| Buildings | _______ | _______ |
| Cash | _______ | _______ |
| Common stock (at par) | _______ | _______ |
| Cost of goods sold | _______ | _______ |
| Depreciation | _______ | _______ |
| Equipment | _______ | _______ |
| General expense | _______ | _______ |
| Interest expense | _______ | _______ |
| Inventories | _______ | _______ |
| Land | _______ | _______ |
| Long-term debts | _______ | _______ |
| Machinery | _______ | _______ |
| Marketable securities | _______ | _______ |
| Notes payable | _______ | _______ |
| Operating expense | _______ | _______ |
| Paid-in capital in excess of par | _______ | _______ |
| _______ | _______ | |
| Preferred stock dividends | _______ | _______ |
| Retained earnings | _______ | _______ |
| Sales revenue | _______ | _______ |
| Selling expense | _______ | _______ |
| Taxes | _______ | _______ |
| Vehicles | _______ | _______ |
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Financial statement account identification Mark each of the accounts listed in the following table as follows:
a. In column (1), indicate in which statement-income statement (IS) or balance sheet (BS)-the account belongs.
b. In column (2), indicate whether the account is a current asset (CA), current liability (CL), expense (E), fixed asset (FA), long-term debt (LTD), revenue (R), or stockholders' equity (SE).
(Select from the drop-down menus.)
Account Name
Accounts payable
(1)
Statement
(2)
Type of Account
C
When recording the chart of accounts, the field you use to classify financial statement accounts is called :
Select one
A. Account description
B. Account type
C. Active designation
D. Account ID
Required: For the following list of accounts select the type of account (Asset,Contra Asset, Liability, Equity, Revenue, or Expense), normal balance (debit or credit), and the financial statement the account would appear on (Income Statement, Retained Earnings Statement or Balance Sheet).
Classify Accounts
Chapter 3 Solutions
Principles of Managerial Finance (14th Edition) (Pearson Series in Finance)
Ch. 3.1 - Prob. 1FOECh. 3.1 - Prob. 2FOECh. 3.1 - Prob. 3.1RQCh. 3.1 - Describe the purpose of each of the four major...Ch. 3.1 - Prob. 3.3RQCh. 3.1 - Prob. 3.4RQCh. 3.2 - With regard to financial ratio analysis, how do...Ch. 3.2 - What is the difference between cross-sectional and...Ch. 3.2 - Prob. 3.7RQCh. 3.2 - Prob. 3.8RQ
Ch. 3.3 - Under what circumstances would the current ratio...Ch. 3.3 - In Table 3.5, most of the specific firms listed...Ch. 3.4 - To assess the firms average collection period and...Ch. 3.5 - What is financial leverage?Ch. 3.5 - What ratio measures the firms degree of...Ch. 3.6 - What three ratios of profitability appear on a...Ch. 3.6 - Prob. 3.15RQCh. 3.6 - Prob. 3.16RQCh. 3.7 - Prob. 3.17RQCh. 3.8 - Financial ratio analysis is often divided into...Ch. 3.8 - Prob. 3.19RQCh. 3.8 - What three areas of analysis are combined in the...Ch. 3 - Prob. 1ORCh. 3 - Learning Goals 3, 4, 5 ST3-1 Ratio formulas and...Ch. 3 - Prob. 3.2STPCh. 3 - Prob. 3.1WUECh. 3 - Learning Goal 1 E3-2 Explain why the income...Ch. 3 - Prob. 3.3WUECh. 3 - Prob. 3.4WUECh. 3 - Learning Goal 6 E3-5 If we know that a firm has a...Ch. 3 - Financial statement account identification Mark...Ch. 3 - Prob. 3.3PCh. 3 - Prob. 3.4PCh. 3 - Prob. 3.5PCh. 3 - Prob. 3.6PCh. 3 - Prob. 3.8PCh. 3 - Prob. 3.9PCh. 3 - Prob. 3.10PCh. 3 - Prob. 3.11PCh. 3 - Learning Goals 2, 3, 4, 5 P3-10 Ratio comparisons...Ch. 3 - Prob. 3.13PCh. 3 - Prob. 3.14PCh. 3 - Accounts receivable management The table below...Ch. 3 - Prob. 3.18PCh. 3 - Prob. 3.20PCh. 3 - The relationship between financial leverage and...Ch. 3 - Prob. 3.22PCh. 3 - Prob. 3.23PCh. 3 - Prob. 3.24PCh. 3 - Prob. 3.25PCh. 3 - Prob. 3.27PCh. 3 - Prob. 1SE
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