Listed below are a number of financial statement captions. Indicate in the spaces to the right of each caption (1) the category of each item, and (2) the financial statement(s) on which the item can usually be found.
Owner's Equity: OE
Balance Sheet: BS
Income Statement: IS
Statement of Changes in Owner's Equity: SOE
Accounts receivable: A, BS
Cost of goods sold: E, IS
The expert examines classification of items into assets, liability and owner's equity.