Classify the Following Items According to the Financial Statement on Which

Essay

Classify the following items according to the financial statement on which each belongs, either the income statement (IS) or the balance sheet (BS).Also indicate whether each is a revenue (R), expense (E), asset (A), liability (L), or owners' equity (OE) item. $$\begin{array}{llcc}&&\text { Appears on Which Statement?}&\text {Type of Account }\\\\1.& \text {Retained earnings }&\_\_\_\_\_\_&\_\_\_\_\_\_\\2.& \text { Buildings}&\_\_\_\_\_\_&\_\_\_\_\_\_\\3.& \text {Common stock }&\_\_\_\_\_\_&\_\_\_\_\_\_\\4.& \text { Accounts payable}&\_\_\_\_\_\_&\_\_\_\_\_\_\\5.& \text {Football ticket sales }&\_\_\_\_\_\_&\_\_\_\_\_\_\\6.& \text {Salaries expense }&\_\_\_\_\_\_&\_\_\_\_\_\_\\7.& \text {Accounts receivable }&\_\_\_\_\_\_&\_\_\_\_\_\_\\\end{array}$$