PARTS IIV Match the numbered items on the left to the letter

PARTS I-IV: Match the numbered items on the left, to the lettered on the right Letters can be used more than once PART I (Income Statement 1) Sales discounts 2) Dividends revenue 3) Delivery expense 4) Loss on sale of equipment A. Net Sales B. Cost of Goods Sold C Selling Expense D. General and Administrative E. Other revenues/gain PART II (Balance Sheet) 5) Patent 6) Trading Securities A. Current Assets B. Long term Investments C. Intangible Asset DProperty, Plant&Equipment; E. Liabilities 7) Land held for Future sale 8) Advances to Employees 9) Allowance for uncollectible accounts PART IlII (Balance Sheet) 10) 11) 12) 13) Unrealized gain on Investments Sales taxes payable Customer deposits Bond Discount (bond due in 5 years) A. Current Liabilities B. Long-term Liabilities C. Paid-In-Capital D. Accumulated Other comprehensive income PART IV (Statement of Cash Flows) A. Operating activities Outflow B. Operating activities Inflow C. Cash provided/used by investing 14) Gain on sale of equipment 15) Depreciation expense 16) Cash received from sale of land 17) Decrease in accounts receivable 18) Cash dividends 19) Issuance of Stock to buy Land 20) Retirement of long term debt 21) Increase in accounts payable D. Cash provided/used by financing E. Reported in the non-cash investing/financing activities schedule

Solution

Part - I (Income Statement) 1) Sales Discounts Net Sales 2) Dividends Revenue Other revenue/gain,expenses/losses 3) Delivery Expense Selling expenses 4) Loss on sale of Equipment Other revenue/gain,expenses/losses Part - II (Balance Sheet) 5) Patent Intangible Asset 6) Trading Securities Current Assets 7) Land held for future use Property, Plant and Equipment 8) Advance to Employees Current Assets 9) Alowance for uncollectible accounts Liabillities Part - III (Balance Sheet) 10) Unrealized gain on Investment Accumulated other comphrensive income 11) Sales taxes Payable Current Liabilities 12) Customer Deposites Current Liabilities 13) Bonds Discount (bond due in 5 years) Long-term Liability Part - IV (Statement of Cash Flows) 14) Gain on sale of Equipment Operating activities Outflow 15) Depreciation Expense Operating activities inflow 16) Cash received from sale of land Cash provided/used by investing activities 17) Decrease in accounts receivable Operating activities inflow 18) Cash Dividends Cash provided/used by Financing activities 19) Issuance of Stock to buy Land Reported in Non cash investing/financing activities schedule 20) Retirement of long term Debt Cash provided/used by Financing activities 21) Increase in accounts payable Operating activities inflow