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lakkis [162]
3 years ago
15

Indicate whether the following items would appear on the income statement, balance sheet, or retained earnings statement. (a) No

tes payable select an option (b) Advertising expense select an option (c) Common stock select an option (d) Cash select an option (e) Service revenue
Business
1 answer:
blagie [28]3 years ago
6 0

Answer:

<u>income statement</u>

Service revenue

Advertising expense

<u>balance sheet</u>

Notes payable

Common stock

Cash

<u>retained earnings statement.</u>

Nill

Explanation:

The Income Statement records <em>Incomes</em> and <em>Expenses</em>. It is used to calculate the Profit earned during the reporting period.

The Balance sheet records <em>Assets</em>, <em>Liabilities</em> and <em>Owners Equity</em>. The Balance Sheet uses Accounting equation : Assets = Liabilities + Owners Equity.

The Retained Earnings records the <em>Opening and Closing Retained Earnings</em> Balances, <em>Profit for the Year</em> and <em>Dividends Paid</em>. It is used to determine the Balance at the end of the year in Profits attributable to Owners

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