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Classifying Financial Statement Accounts For each account a through m listed below, indicate the account type ( asset , liability, or equity ) and the
Classifying Financial Statement Accounts
For each account a through m listed below, indicate the account type asset liability, or equity and the financial statement balance sheet or statement of comprehensive income where the account would be reported.
Account Type Financial Statement Classification
a Discount on Bonds Payable year bonds Answer
Liability
Answer
b Premium on Bonds Payable year bonds Answer
Liability
Answer
c Bonds Payable Due in years Answer
Liability
Answer
d Note Payable Due in years Answer
Liability
Answer
e Interest Expense Answer
Answer
Statement of comprehensive income
f Unrealized Gain or LossIncome Answer
Liability
Answer
g Unrealized Gain or LossOCI Answer
Liability
Answer
h Gain on Redemption of Bonds Answer
Asset
Answer
i Debt Conversion Expense Answer
Answer
Statement of comprehensive income
j Interest Payable Answer
Liability
Answer
k Gain on Extinguishment of Bonds Answer
Answer
l Mortgage Payable Answer
Liability
Answer
m Paidin CapitalStock Warrants Answer
Equity
Answer
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