preparation and Interpretation of Financial Statements p1. A list of financial statement items…

preparation and Interpretation of Financial Statements

p1. A list of financial statement items follows.

Utilities expense Building Common stock Net income Land Equipment Revenues

Accounts receivable

Accounts payable Rent expense Dividends

Fees earned Cash Supplies

Wages expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

reQUIreD

1.    Indicate whether each item is found on the income statement (IS), statement of retained earnings (RE), and/or balance sheet (BS).

2.    BUsiness appliCation ▶ Which statement is most closely associated with the goal of profitability?

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