Question

A list of financial statement items follows.
Utilities expense
Building
Owner’s capital
Net income
Land
Equipment
Revenues
Accounts receivable
Accounts payable
Rent expense
Withdrawals
Fees earned
Cash
Supplies
Wages expense

REQUIRED
1. Indicate whether each item is found on the income statement (IS), statement of owner's equity (OE), and/or balance sheet (BS).
2. Business Application? Which statement is most closely associated with the goal of profitability?



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  • CreatedMarch 26, 2014
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