Question
Financial Statement Identification: Mark each of the accounts listed in the following table as follows: 1) In column (1) indicate in which financial statement (SCI)
Financial Statement Identification: Mark each of the accounts listed in the following table as follows:
1) In column (1) indicate in which financial statement (SCI) Statement of Comprehensive Income or (SFP) Statement of Financial Position, the account belongs.
2) In column (2) indicate whether the account relates to a current asset (CA), current liability (CL), expense (E), non-current asset (NCA), long-term debt (LTD), revenue (R), or shareholder equity (SE).
Question 1.
| Account Name | Statement | Type of Account |
| Trade and other payables (Creditors) | SFP | CL |
| Trade receivables (Debtors) | SFP | CA |
| Current portion of long-term borrowing | SFP | LTD |
| Accumulated depreciation | SCI | E |
| Administrative expenses | SCI | E |
| Buildings | SFP | NCA |
| Cash | SFP | CA |
| Ordinary share capital (at par) | SFP | SE |
| Cost of goods sold | SCI | R |
| Depreciation | SCI | E |
| Equipment | SFP | NCA |
| General expenses | SCI | E |
| Finance costs | SFP | CL |
| Inventories (trading stock) | SCI | CA |
| Land | SFP | NCA |
| Long-term debts | SFP | LTD |
| Machinery | SFP | NCA |
| Cash equivalents | SFP | CA |
| Short term borrowing | SCI | E |
| Share premium | SFP | SE |
| Preference share capital | SFP | SE |
| Preference share dividends | SFP | SE |
| Retained earnings | SFP | SE |
| Sales revenue | SCI | CA |
| Selling expenses | SCI | E |
| Taxes | SCI | E |
| Vehicles | SFP | NCA |
Financial Statement Identification: Mark each of the accounts listed in the following table as follows:
1) In column (1) indicate in which financial statement (SCI) Statement of Comprehensive Income or (SFP) Statement of Financial Position, the account belongs.
2) In column (2) indicate whether the account relates to a current asset (CA), current liability (CL), expense (E), non-current asset (NCA), long-term debt (LTD), revenue (R), or shareholder equity (SE).
Question 1.
| Account Name | Statement | Type of Account |
| Trade and other payables (Creditors) | SFP | CL |
| Trade receivables (Debtors) | SFP | CA |
| Current portion of long-term borrowing | SFP | LTD |
| Accumulated depreciation | SCI | E |
| Administrative expenses | SCI | E |
| Buildings | SFP | NCA |
| Cash | SFP | CA |
| Ordinary share capital (at par) | SFP | SE |
| Cost of goods sold | SCI | R |
| Depreciation | SCI | E |
| Equipment | SFP | NCA |
| General expenses | SCI | E |
| Finance costs | SFP | CL |
| Inventories (trading stock) | SCI | CA |
| Land | SFP | NCA |
| Long-term debts | SFP | LTD |
| Machinery | SFP | NCA |
| Cash equivalents | SFP | CA |
| Short term borrowing | SCI | E |
| Share premium | SFP | SE |
| Preference share capital | SFP | SE |
| Preference share dividends | SFP | SE |
| Retained earnings | SFP | SE |
| Sales revenue | SCI | CA |
| Selling expenses | SCI | E |
| Taxes | SCI | E |
| Vehicles | SFP | NCA |
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