Identifying items on financial statementsIndicate in which financial statement each item would most likely appear: income statement(IS) or balance sheet (BS) or neither (N).1a. Assetsb. Equipmentc. Salaries expensed. Dividends34e. Cashf. Liabilitiesg. Rent expenseh. RevenuesAccounting equationa. Use the accounting equation to compute the missing financial statement amounts (a), (b), and(c).i. Accounts payablej. Total liabilities and equityCompany1212343ACompany12b. Use the expanded accounting equation to compute the missing financial statementamounts (a) and (b).BBAssets$75,000(b)85,000Assets$40,000$80,000Liabilities$ (0)Liabilities$ 16,000$32,00025,00020,000DCommonStock$ 20,000$44,000EEquity$40,00070,000(c)Dividends$0(b)FRevenues(0)$24,0001GExpenses$8,000$18,000

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Identifying items on financial statements Indicate in which financial statement each item would most likely appear: income statement (IS) or balance sheet (BS) or neither (N). a. Assets b. Equipment c. Salaries expense d. Dividends e. Cash f. Liabilities g. Rent expense h. Revenues i. Accounts payable j. Total liabilities and equity

Identifying items on financial statements Indicate in which financial statement each item would most likely appear: income statement (IS) or balance sheet (BS) or neither (N). a. Assets b. Equipment c. Salaries expense d. Dividends e. Cash f. Liabilities g. Rent expense h. Revenues i. Accounts payable j. Total liabilities and equity

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 5PA: Identify the financial statement on which each of the following account categories would appear: the...

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