Indicate Whether the Following Items Would Appear on the Balance

question 148

Essay

Indicate whether the following items would appear on the balance sheet (BS) income statement (IS) or owner's equity statement (OE).
1. Utilities expense
2. Accounts receivable
3. Owner's drawings
4. Service revenue
5. Salaries and wages payable
6. Equipment

Analyze and comprehend the relationship between equity and debt, and its implications for creditors and the company’s financial health.

Apply knowledge to prepare and understand complex income statements, including correct allocation of income taxes and reporting of discontinued operations.

Understand the definition and financial treatment of discontinued operations within a company’s financial statements.

Grasp the concept of earnings distribution through the payout ratio.

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Definitions:

Pragmatics

The branch of linguistics concerned with the practical aspects of human action and thought as they relate to the use of language.

Pronouncing

The act of articulating or saying words and sounds in a particular way.

Polite Language

The use of words, phrases, and manners that are considered socially courteous and respectful.

Intelligible Word

A word that is spoken or written in a way that is easily understood.