You are presented with the following alphabetical list of items, selected from the fi nancial statements of Saputo Inc.:
Accounts payable and accrued liabilities............................... Income taxes payable
Bank loan payable................................................................ Interest expense
Cash...................................................................................... Inventories
Dividends ........................................................................Prepaid expenses
Dividends payable.................................................................... Receivables
Furniture, machinery, and equipment................................................. Revenues
General and administrative expenses................................................ Trademarks
Goodwill
Income tax expense
Instructions
For each of the above accounts, identify the following:
(a) the type of account (assets, liabilities, share capital, dividends, revenues, expenses);
(b) the normal balance of the account; and
(c) on which financial statement (income statement, statement of changes in equity, statement of financial position) Saputo would likely report the account.