Below are some items found in the financial statements of Peter Zizler, Orthodontist.

Instructions
Indicate
(a) Whether each of the above items is an asset (A), liability (L), or part of owner's equity (OE); and
(b) Which financial statement-income statement (IS), statement of owner's equity (OE), or balance sheet (BS)-it would be reported on. The first one has been done for you as an example.

Transcribed Image Text:

1. Accounts payable 2. Accounts receivable 3. Cash 4. Equipment 5. Interest payable 6. Interest revenue 7. Interest expense 8. Investment by the owner 9. Service revenue 10. Prepaid rent 11· P. Zizler, capital (opening balance) 12. P. Zizler, drawings 13. Salaries expense 14. Supplies 15. Supplies expense 16. Unearned revenue BS