Indicate whether the following items would appear on the income statement (IS), balance sheet (BS), or owners
Question:
Indicate whether the following items would appear on the income statement (IS), balance sheet (BS), or owner’s equity statement (OE).
a. Notes payable
b. Advertising expense
c. Owner’s capital
d. Cash
e. Service revenue
Balance SheetBalance 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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BS a Notes payable IS b A...View the full answer
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Related Book For 
Accounting Principles
ISBN: 9780471980193
8th Edition
Authors: Jerry J Weygandt, Donald E Kieso, Paul D Kimmel
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