Question

Indicate whether the following items would appear on the income statement, balance sheet, or retained earnings statement. (a) Notes payable select a statement (b) Advertising expense select a statement (c) Common stock select a statement (d) Cash select a statement (e) Service revenue select a statement (f) Dividends select a statement

Answer 1

Notes payable - Balance sheet

2. Advertising - Income statement

3. Common stock - Balance sheet

4. Cash - Balance sheet

5. Service revenue - Income statement

6. Dividends - retained earnings statement

Step-by-step explanation:

1. Notes payable - Balance sheet... It s a liability

2. Advertising - Income statement.... It is an expense

3. Common stock - Balance sheet... It is an owner's equity

4. Cash - Balance sheet... It is an asset

5. Service revenue.... Income statement.... It is a revenue/sales

6. Dividends - retained earnings statement