Classification Flashcards

(8 cards)

1
Q

Sales (1101)

A

Sales is a Revenue (Operating Income) account.

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2
Q

Sales Returns and Allowances (1101A)

A

Sales Returns and Allowances is a Contra Revenue account, as it reduces total sales.

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3
Q

Service Fees Revenue (1102)

A

Service Fees Revenue is a Revenue (Operating Income) account.

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4
Q

Commission Revenue (1103)

A

Commission Revenue is a Revenue (Operating Income) account.

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5
Q

Dividends Revenue (1104)

A

Dividends Revenue is an Other Revenue account.

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6
Q

Interest Revenue (1105)

A

Interest Revenue is an Other Revenue account.

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7
Q

Rent Revenue (1106)

A

Rent Revenue is an Other Revenue account.

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8
Q

Gain on Sale of Non-current Assets (1107)

A

Gain on Sale of Non-current Assets is an Other R. V Aue (Gain) account.

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