Indicate whether the following items would appear on the income statement (IS), balance sheet (BS), or retained
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Indicate whether the following items would appear on the income statement (IS), balance sheet (BS), or retained earnings statement (RE).
________________ a. Notes payable
________________ b. Advertising expense
________________ c. Common stock
________________ d. Cash
________________ e. Service revenue
________________ f. Dividends
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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Financial and Managerial Accounting
ISBN: 978-1119392132
3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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