Answer: Please refer to Explanation
Explanation:
1. Accounts Payable - Balance Sheet
This is a balance sheet item under Current Liabilities. It shows the firm's or people that the company owes for buying goods on account.
2. Cash - Balance Sheet Item.
It shows the amount of cash that the company has. It is a Current Asset.
3. Common Stock - Balance Sheet Item
This is a balance sheet item that shows the amount of common stock in the company. It is reporters in the Stockholders' Equity section along with Retained Earnings, Treasury Stock and Preferred stock.
4. Accounts Receivable - Balance Sheet item
Reported in the balance sheet under the Current Assets section. It is used to denote those customers who bought goods on account from the company.
5. Rent Expense - Income Statement
This is an expense and as such is treated in the Income statement and subtracted from the revenue.
6. Service Revenue - Income statement
The company gets this when they provide a service and as such it is revenue which will be added to the company's total revenue.
7. Office Supplies - Income Statement
They should be recorded in the income statement if they are used in the period in question as they will be expenses used in the upkeep of the office.
8. Dividends - Statement for Retained Earnings
These will be reflected in the statement for retained earnings as they are subtracted from the Retained Earnings. The Retained Earnings balance reported will then be Net of Dividends.
9. Land - Balance Sheet
Land is a fixed asset and as such will appear on the balance sheet of a company.
10. Salaries Expense - Income Statement item.
As an expense, this goes to the Income statement and will be deducted fro the revenue for the period. Bear in mind that this and all other expenses should only be deducted if they are from the period in question.
