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Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Statement of Retained Earnings, B for Balance Sheet, and C for Statement of Cash Flows. (If a box is not used in the table, leave the box empty; do not select a label.)
Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, RE for Statement of Retained Earnings, B for Balance Sheet, and C for Statement of Cash Flows. (If a box is not used in the table, leave the box empty; do not select a label.) a.
Accounts Payable
b.
Cash
c.
Common Stock
d.
Accounts Receivable
e.
Rent Expense
f.
Service Revenue
g.
Office Supplies
h.
Dividends
i.
Land
j.
Salaries Expense
Answer:a. Accounts Payable: Bb. Cash: Bc. Common stock: B.d. Account Receivables: Be. Rent expenses: If. Service revenue: Ig. Office supplies: Bh. Dividends: REi. Land: Bj. Salaries Expenses: IExplanation:a. Accounts Payable: IIt is recorded in the Liability part to showed amount owed to suppliers.b. Cash: BIt is recorded in the Current Asset part to show amount of cash on hand and in bank.c. Common stock: BIt is recorded in the Owner Equity part to show Owner's capital contributiond. Account Receivables: BIt is recorded in the Asset part to show amount owed from customers.e. Rent expenses: IIt is recorded in the expenses part of income statement.f. Service revenue: IIt is recorded in the revenue part of income statement.g. Office supplies: BIt is recorded in the current asset part of the Balance Sheet statement to show how much office supplies is not consumed/ fully consumed.h. Dividends: REIt is recorded in the Statement of Retained Earnings to show dividend paid out in the reporting period.i. Land: BIt is recorded in the Non-current Asset part of the balance sheet to show Book value of land possession.j. Salaries Expenses: IIt is recorded in the expenses part of income statement....