Indicate where in the financial statements you would find the following itemsincome statement (IS), owners equity statement

Question:

Indicate where in the financial statements you would find the following items—income statement (IS), owner’s equity statement (OE), or balance sheet (BS).

a. Drawings.

b. Rent revenue.

c. Advertising expense.

d. Owner investment.

e. Supplies.

f. Accounts payable.

Financial Statements
Financial statements are the standardized formats to present the financial information related to a business or an organization for its users. Financial statements contain the historical information as well as current period’s financial... 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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