* Chapters 1-3 Financial Statement Classification Assessment Activity Instructions: Complete each box with the appropriate information: Classification: Use current asset, long term asset, current liability, long term liability, equity, dividends, revenue, and expenses Financial Statement: Use Income Statement, Retained Earnings Statement, and/or Balance Sheet Increase and Decrease columns should reflect either a Debit or Credit #Account (EXAMPLE) Bonds Payables 1 Cash 2 Salaries and Wages Payable 3 Interest Expense 4 Prepaid Expenses 5 Accounts Payable 6 Supplies Expense 7 Accounts Receivable 8 Insurance Expense Classification Financial Statement DEBIT CREDIT Long Term Liability Page Balance Sheet Decrease Increase 1