PROBLEM 1

Indicate on which financial statement you would expect to find each of the following items using IS (income statement), BS (balance sheet), or SRE (statement of retained earnings). Also indicate whether the item is an Asset (A), Liability (L), Stockholders Equity (SE), Revenue (R), or Expense (E).

Account	Statement	Type
Cash
Accounts payable
Salaries expense
Sales revenue
Cost of goods sold
Accounts receivable
Income tax expense
Dividends
Land
Contributed capital
Selling expense