Balance Sheets and Income Statements : Assets, Liabilities and Owner's Equity
Not what you're looking for?
Indicate for each of the following items whether it would appear on a balance sheet (BS) or an income statement (IS). If a balance sheet item, is it an asset (A), a liability (L), or an owners' equity item (OE)?
1. Accounts Payable
2. Sales Revenue
3. Accounts Receivable
4. Advertising Expense
5. Cash
6. Supplies
7. Consulting Revenue
8. Land
9. Capital Stock
10. Rent Expense
11. Equipment
12. Interest Receivable
13. Mortgage Payable
14. Notes Payable
15. Buildings
16. Salaries & Wages Expense
17. Retained Earnings
18. Utilities Expense
Purchase this Solution
Solution Summary
Items are identified on balance sheets and income statements as assets, liabilities and owner's equity.
Education
- BA, Ain Shams University, Cairo Egypt
- MBA, California State University, Sacramento
Recent Feedback
- "ty i have more need help with"
- "ty i have jmore i need help with"
- "great help"
- "excellent help"
- "Very helpful and easy to understand."
Purchase this Solution
Free BrainMass Quizzes
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Cost Concepts: Analyzing Costs in Managerial Accounting
This quiz gives students the opportunity to assess their knowledge of cost concepts used in managerial accounting such as opportunity costs, marginal costs, relevant costs and the benefits and relationships that derive from them.
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.
Motivation
This tests some key elements of major motivation theories.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.