EX 1-8 Asset, liability, and owner's equity items OBJ.3 Indicate whether each of the following is identified with (1) an asset, (2) a liability, or (3) owner's equity: a. accounts receivable b. accounts payable f. rent expense g. supplies d. fees earned e. land c. cash EX 1-16 Balance sheet items OBJ.5 From the following list of selected items taken from the records of Rosewood Appliance Service as of a specific date, identify those that would appear on the balance sheet: 1. Accounts Payable 6. Land 2. Accounts Receivable 7. Rent Expense 3. Andrew King, Capital 8. Supplies 4. Cash 9. Wages Expense 5. Fees Earned 10. Wages Payable EX 1-17 Income statement items OBJ.5 Based on the data presented in Exercise 1-16, identify those items that would appear on the income statement. EX 1-18 Statement of owner's equity OBJ. 5 Financial information related to Pegasus Products Company, a proprietorship, for the month ended April 30, 2017, is as follows: Net income for April $161,000 Brian Walinsky's withdrawals during April 24,000 Brian Walinsky's capital, April 1, 2017 373,000 a. Prepare a statement of owner's equity for the month ended April 30, 2017. b. Why is the statement of owner's equity prepared before the April 30, 2017, balance sheet? EX 1-19 Income statement OBJ.5 Hermes Services was organized on August 1, 2012. A summary of the revenue and expense transactions for August follows: Fees earned $627,600 Wages expense 440,800 Rent expense 28.100 Supplies expense 6,800 Miscellaneous expense 9.300 Prepare an income statement for the month ended August 31. Ex. 1-8 Ex. 1-16 Ex. 1-17 Ex 1-18 Pegasus Product Company Statement of Owner's Equity Page 3 of 10 672 words English (United States Ex 1-18 Pegasus Product Company Statement of Owner's Equity For the Month Ended April 30, 2017 Ex 1-19 Hermes Services Income Statement For the Month Ended August 31, 20Y2 Revenues: Expenses: Total Expenses Net Income Ex. 1-21 Rockwell Interiors Balance Sheet February 29, 20YO