5 Financial Statements; Closing Entries and Reversing Entries APPLY WHAT YOU HAVE LEARNED 5.1. Financial Statements For each of the following accounts, place the letter of the financial statement on which it would be found in the space provided. Some items may appear on more than one statement . Income Statement C Statement of Retained Earnings . D Balance Sheet Statement of Owners Capital 1. Cash 6. Land 2. Retained Earnings Bonds Payable Owner, Drawing 5. Accounts Payable 7. Cost of Goods Sold & Wages Expense 4. 9. Sales 10. Net income C. . 5-2. Financial Statements. For each of the following accounts, place the letter of the financial statement on which it would be found in the space provided. Some items may appear on more than one statement A. Income Statement Balance Sheet Statement of Retained Earnings D. Statement of Owners' Capital 1. Accounts Payable 6. Dividends 2. Accumulated Depreciation 7. Sales 3. Depreciation Expense 8. Income Tax Expense 4. Bonds Payable 9. Owner, Capital 5. Common Stock 10. Wages Payable FINANCIAL STATEMENTS 5-15