Basic financial statements (Learning Objective 6 ) 5–10 min.

Label each of the items listed with the abbreviation of the financial statement on which it appears. Items may appear on more than one statement.

Income Statement (IS)

Balance Sheet (BS)

Statement of Retained Earnings (RE)

____ 1. Accounts Receivable ____ 2. Notes Payable ____ 3. Advertising Expense ____ 4. Service Revenue ____ 5. Retained Earnings ____ 6. Office Supplies AppendixLO1