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ACCOUNTING DIAGNOSTIC QUIZ Classify the following accounts into: A. Comprehensive Income Statement C. Liabilities 1. Net sales 1. Current 2. Cost of sales, or cost of goods sold 2. Long-term 3. Selling expenses D. Non-current Assets 4. Administrative expenses 1. Long-term investments (specify other income) 5. Financing costs 2. Plant, property & equipment 6. Other expenses 3. Biological assets 7. Other income 4. Intangibles 8. Income tax expense 5. Other assets 9. Other comprehensive income B. Stockholders' equity L. Current Assets 1. Paid in capital 1. Cash & cash cquivalents 2. Retained carnings 2. Short-term investments (specify other income) 3. Unrealized increases 3. Receivables 4. Others 4. Inventories 5. Prepaid cxpenses F. None of the above Write your answers using capital letters. Some letter answers cannot stand alone; write the related number and other required specifications. If the account is a contra-account write x before your answer. Example: Allowance for Douhtful Accounts is X-E3 because it is a deduction from Accounts Receivable. Erasures and alterations will not be honored. 1. Cash in bank 16. Allowance for doubtful accounts 2 Cash in bank(restricted) 17. Allowance for sales discount 3. Pension fund 18. Sales discount 4. Payroll fund 19. Installment accounts receivable(due in 10 months) 3. Cash in closed bank 20. Installment accounts receivabledu in 18 months) 6. Bank overdran 21. Installment accounts receivabletaverdue) 7. Valc fund 22. Uncanned gross profit included in an. 19 8. 2-month time deposit 23. Incarned finance charges included in no. 19 9. 4-month BSP treasury bill 24. Work in process, heyinning 10.365 days time deposit 25. Work in procent endling 11. Trading securities 26. Allowance for purchase discount 12 Investment in stocks 27. Purchases discount 13. Investment in bonds 28. Depacciation expense, delivery equipment 14. Investment in partnership 29. Accumulated depreciation 15. Investment in subsidiary 30. Prepaid insurance