Question

A list of financial statement items follows.
Wages expense
Equipment
Equipment rental expense
Net income
Land
Owner’s capital
Revenues
Accounts receivable Accounts payable
Rent expense
Withdrawals
Fees earned
Cash
Supplies
Utilities 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. Which statement is most closely associated with the goal of profitability?



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  • CreatedMarch 26, 2014
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