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Match the Following Classifications on the Financial Statements with the Accounts

Question 107

Matching

Match the following classifications on the financial statements with the accounts below.

Premises:

Responses:

Paid-in-Capital from Treasury Stock

Reduction of liability

Interest Expense

Income Statement

Treasury Stock

Reduction in Owners' Equity

Preferred Stock

Liability

Paid-in-Capital in Excess of Par

Owners' Equity

Discount on Notes Payable

Addition to liability

Dividend Payable

Premium on Notes Payable

Common Stock

Notes Payable

Premises:

Paid-in-Capital from Treasury Stock

Interest Expense

Treasury Stock

Preferred Stock

Paid-in-Capital in Excess of Par

Discount on Notes Payable

Dividend Payable

Premium on Notes Payable

Common Stock

Notes Payable

Responses:

Reduction of liability

Income Statement

Reduction in Owners' Equity

Liability

Owners' Equity

Addition to liability

Correct Answer:

Premises:

Responses:

Paid-in-Capital from Treasury Stock

Interest Expense

Treasury Stock

Preferred Stock

Paid-in-Capital in Excess of Par

Discount on Notes Payable

Dividend Payable

Premium on Notes Payable

Common Stock

Notes Payable

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