Question

Indicate in the space provided by each item whether it would appear on the income statement, balance sheet, or retained earnings statement: a. Service Revenue choose a statement b. Utilities Expense choose a statement c. Cash choose a statement d. Accounts Payable choose a statement e. Supplies choose a statement f. Salaries and Wages Expense choose a statement g. Accounts Receivable choose a statement h. Common Stock choose a statement i. Equipment choose a statement j. Advertising Expense choose a statement k. Dividends choose a statement l. Notes Payable choose a statement

Answer 1

a. income statement

b. income statement

c. balance sheet

d. balance sheet

e. balance sheet

f. income statement

g. balance sheet

h. balance sheet

i. balance sheet

j. income statement

k. retained earnings statement

l. balance sheet

Step-by-step explanation:

Income Statement,

Shows the Profit or Loss attained during the Reporting Period. Elements included in it are Revenues/Incomes and Expenses.

Balance Sheet,

Shows the Balance of Assets, Liabilities and Equity as at the Reporting Date.

Retained Earnings Statement

Shows the amount of Profit that is left as a reserve after the payments of dividends and transfers to other reserves.