The following lettered items represent a classification scheme for a multistep income statement. In the blank next to each account, write the letter indicating to which category it belongs. a. Revenues d. General and administrative expenses b. Cost of goods sold e. Other revenues and expenses c. Selling expenses f. Not on income statement _____ 1. Depreciation Expense (for delivery truck) _____
6. Rent Expense (for main office) _____ 2. Dividend Income _____ 7. Advertising Expense _____ 3. Cash _____ 8. Personnel Expense _____ 4. Interest Income _____ 9. Unearned Revenue _____ 5. Prepaid Rent _____ 10. Sales Discounts
Fill in the blank(s) with correct word
1. c 6. d
2. e 7. c
3. f 8. d
4. e 9. f
5. f 10. a
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