Indicate whether the following items would appear on the income statement (IS), balance sheet (BS), or owners equity statement (OE) (a) Notes payable (d) Cash (b) Advertising expense (e) Service revenue (c) Trent Buchanan, Capital ...

Indicate whether the following items would appear on the income statement (IS), balance sheet (BS), or owners

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Indicate whether the following items would appear on the income statement (IS), (BS), or owner’s equity statement (OE).
_______(a) Notes payable _______(d) Cash
_______(b) Advertising expense _______(e) Service revenue
_______(c) Trent Buchanan, Capital

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...

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Accounting Principles

ISBN: 9781118566671

11th Edition

Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso

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Question Posted: Sep 20, 2011 07:50 AM

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Indicate whether the following items would appear on the income statement (IS), balance sheet (BS), or owners

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BS a Notes payable IS b ...View the full answer

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