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

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Definitions:

Fraudulent Misrepresentation

A false statement of fact made by one party to another, with the intent of inducing the latter to enter into a contract.

Actual Injury

Real and concrete harm or damage experienced by an individual or entity, as opposed to hypothetical or potential injury.

Enforceable

describes legal agreements or obligations that can be compelled or upheld by law, ensuring compliance or performance by the parties involved.

Instant-Messaging Conversation

A form of real-time communication between two or more people based on typed text over the internet.