A company's chart of accounts includes,in part,the following account numbers and corresponding account titles:

-Which accounts would appear on the income statement?

Question

A company's chart of accounts includes,in part,the following account numbers and corresponding account titles:
 
-Which accounts would appear on the income statement?

Quizplus · Accepted Answer

Cost of goods sold (3),transportation-out (4),selling expense (7),loss on the sale of land (8),and sales (9)will all appear on the income statement.The remaining accounts appear on the balance sheet,except for dividends which appear on the statement of changes in stockholders' equity.

A Company's Chart of Accounts Includes,in Part,the Following Account Numbers