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Indicate Whether Each Item Below Would Appear on the Income

Question 76

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Indicate whether each item below would appear on the income statement (IS), balance sheet (BS), or statement of retained earnings (E).

Premises:

Responses:

Common Stock

income statement

Dividends

balance sheet

Wages Expense

Statement of retained earnings

Commissions Earned

Buildings

Accounts Payable

Utilities Expense

Beginning Retained Earnings

Accounts Receivable

Notes Payable

Premises:

Common Stock

Dividends

Wages Expense

Commissions Earned

Buildings

Accounts Payable

Utilities Expense

Beginning Retained Earnings

Accounts Receivable

Notes Payable

Responses:

income statement

balance sheet

Statement of retained earnings

Correct Answer:

Premises:

Responses:

Common Stock

Dividends

Wages Expense

Commissions Earned

Buildings

Accounts Payable

Utilities Expense

Beginning Retained Earnings

Accounts Receivable

Notes Payable