Indicate whether each of the following items will be reported in the balance sheet (BS), statement of earnings (SE), both the balance sheet and statement of earnings (B), or neither statement (N) for example, it might appear only on the cash flow statement a Cash b Land acquired four years ago c Pr...

Indicate whether each of the following items will be reported in the balance sheet (BS), statement of

Question:

Indicate whether each of the following items will be reported in the (BS), statement of earnings (SE), both the and statement of earnings (B), or neither statement (N)-for example, it might appear only on the cash flow statement.
a. Cash
b. Land acquired four years ago
c. Prepaid rent
d. Interest revenue
e. Sales of goods and services
f. Dividends paid to shareholders
g. Rent expense
h. Sales anticipated next period
i. Payment made to reduce the principal amount of a bank loan
j. Common shares issued when the company was organized five years ago
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...