Accounting Classifications Janet Gomez is attempting to evaluate the desirability of investing some of her savings in Stanway Enterprises. Stanway Enterprises is a regional food wholesaler and has provided her with a list of its transactions during the last accounting period. She has sought your help in determining whether some of the transactions included on the list should be classified under accrual accounting as revenues (R), gains (G), expenses (E), losses (L), or items that should not appear in the income statement (O):

a. Sales of meat products for cash.

b. Sales of vegetables on credit, with cash to be collected early in the next period.

. Cost of meat products sold during the period.

Cost of vegetables sold during the period.

Cost of frozen juice products to be sold next period.

. Total sales price of unused delivery vehicles.

. Excess of the selling price of land sold during the period over its cost.

h. Uninsured cost of building repairs necessitated by fire damage that occurred during the period.

i. Cost of new delivery equipment purchased during the period.