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    The income statement

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    Listed below are accounts that may appear on the balance sheet or the income statement.
    a. equipment
    b. fees earned
    c. retained earnings
    d wage expense
    e. patent
    f. cost of goods sold
    g. common stock
    h. dividend payable
    i. accumulated depreciation
    j. prepaid expense
    k. gain on sale of short term investment
    l. rent revenue
    m. supplies inventory
    n. accounts receivable
    o. land
    p. insurance expense
    q. interest payable
    r. deferred revenue
    For each account, indicate whether a company would ordinarily disclose the account on balance sheet, or income statement.

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    ** Please see the attached file for the complete solution response **

    Listed below are accounts that may appear on the balance sheet or the income statement.
    a. equipment
    b. fees earned
    c. retained earnings
    d wage expense
    e. patent
    f. cost of goods sold
    g. common stock
    h. dividend payable
    i. accumulated depreciation
    j. prepaid expense
    k. gain on sale of short term investment
    l. rent revenue
    m. supplies inventory
    n. accounts receivable
    o. land ...

    Solution Summary

    This solution provides a sample income statement, which is fully explicated.

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