to be used BS: Balance Sheet or Statement of Financial Position IS: Income Statement CA: Current assets PPE: Property, plant, and Equipment IA: Intangible Assets CL: Current Liabilities LTL: Long-term Liabilities SE: Shareholders' Equity GP: Gross Profit section of the Income Statement OP: Operating Expenses Account Financial Statement Section BS CA Example: Cash Accounts payable BS b) Accounts receivable BS IS OP c) Accumulated depreciation Allowance for Doubtful Accounts d) (AFDA) BS e) Common shares BS SE f) Cost of Goods Sold BS Deferred revenue IS h) Equipment BS Note payable, due in three years BS j) Patent BS Prepaid rent BS Rent expense is Retained Earnings BS 1) m) n) o) Salaries expense IS Salaries payable BS p) Sales revenue IS