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2. (15 points) Specify, to the left of each account, the letter of the financial statement classification the account would appear in. Use only the
2. (15 points) Specify, to the left of each account, the letter of the financial statement classification the account would appear in. Use only the classifications shown Income and Retained Earnings Statement Balance Sheet a. Current Assets b. Investments c. Property, Plant, and Equipment d. Intangible Assets e. Other Assets f. Current Liabilities g. Long-term Debt h. Capital Stock i. Retained Earnings j. Sales Revenue k. Cost of Goods Sold I Operating Expenses m. Other Revenues and Gains n. Other Expenses and Losses o. Retained Earnings Section p. Not on the Statements Account balances taken from the ledger of Morin Company on December 31, 2017 follow: 1. Common Stock, $10 par 2. Loss on Disposal of Equipment 3. Buildings 4. Office Expense 5. Allowance for Doubtful Accounts 6. Notes Payable (Short Term) 7. Accum. Depreciation-Buildings 8. Mortgage Payable due 2019 9. Depletion Expense 16. Inventory 17. Salaries and Wages Expense 18. Merchandise on order with supplier 19. Interest Revenue 20. Selling Expenses 21. Interest Expense 22. Income Taxes Payable 23. Insurance Expense 24. Advertising Expense 25. Equity Investments 26. Accounts Receivable 27. Land 28. Accounts Payable 29. Error made in computing 2016 10. Freight-Out 11. Sales Revenue 12. Dividends 13. Retained Earnings Dec. 31, 2016 14. Cash depreciation expense 30. Gain on Sale of Equipment 15. Sales Discounts
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