Question

Scoring: Your score will be based on the number of correct matches. There is no penalty for incorrect or missing matches.

Match each account name to the financial statement section (a-i) in which it would appear.
Clear All
Loss on Disposal of Asset
Accumulated Depreciation—Buildings
Gain on Sale of Equipment
Loss from Impaired Goodwill
Land Improvements
Repairs Expense
Buildings
Depreciation Expense
Amortization Expense
Trademarks
Research and Development Costs
Revenues
Current Liability
Other Income/Expense
Current Assets
Fixed Assets
Intangible Assets
Long-Term Liability
Owners' Equity
Operating Expenses

Answer 1

The matches are as follows:

Loss on Asset Disposition - Other Revenue/Expense (h)

Buildings: Accrued Depreciation - Fixed Assets (g)

Profit on Equipment Sale - Other Revenue/Expense (h)

Diminished Goodwill Loss - Other Revenue/Expense (h)

Fixed Assets - Land Improvements (g)

Operating Expenses - Repair Costs (i)

Structures - Fixed Resources (g)

Operating Expenses - Depreciation Expense (i)

Intangible Asset Amortization Expense (e)

Intangible Assets: Trademarks (e)

Operating Expenses - Research and Development Costs (i)

Income - Income (a)

Existing Debt - Existing Debt (c)

Other Revenue/Expense - Unspecified Revenue/Expense (h)

Present Resources - Present Resources (b)

Fixtures - Permanent Fixtures (g)

Assets Intangibles - Assets Intangibles (e)

Liability for the Long Term - Long-Term Liability (d)

Owners' Equity - Equity of Owners (f)

Operational Costs - Operational Costs (i)