indicate whether each of the following would appear on the income statement, the statement of changes in equity or balance sheet of Tressa Mortola skincare.

Transcribed Image Text:

Problem #7 Financial Statements Indicate whether each of the following would appear on the income statement, the statement of changes in equity or balance sheet of Tressa Mortola Skincare. Item Example: Total liabilities at the end of the year. a Supplies on hand at the end of the year. b. Total insurance expired during the year. Accounts receivable at the end of the year. d. Total revenues earned during the year. eTotal withdrawals by the owner. g- The book value of the entity's equipment. The amount of depreciation taken on equipment during the year. h. The cost of supplies used during the year. Owner's equity at the beginning of the year. Profit for the year. Income Statement Statement of Changes in Equity Balance Sheet X Problem #7 Financial Statements Indicate whether each of the following would appear on the income statement, the statement of changes in equity or balance sheet of Tressa Mortola Skincare. Item Example: Total liabilities at the end of the year. a Supplies on hand at the end of the year. b. Total insurance expired during the year. Accounts receivable at the end of the year. d. Total revenues earned during the year. eTotal withdrawals by the owner. g- The book value of the entity's equipment. The amount of depreciation taken on equipment during the year. h. The cost of supplies used during the year. Owner's equity at the beginning of the year. Profit for the year. Income Statement Statement of Changes in Equity Balance Sheet X