APPENDIX A
Financial Statement Practice
Middlesex Manufacturing Company
The following list gives all the financial categories of Middlesex Manufacturing Company, Inc. For each item in the list, identify whether it belongs on the balance sheet or the income statement and write the number in the correct places. Correctly placing the numbers will provide you with an excellent review of the structure and content of the financial statements.
| Corporate Income Tax Expense | $ 2,000 |
| Accounts Receivable | 3,000 |
| Telephone Expense | 7,000 |
| Cost of Goods Sold | 140,000 |
| Wages Expense | 29,000 |
| Total Current Assets | 12,000 |
| Advertising Expense | 10,000 ... |
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