Indicate Whether the Following Items Would Appear on the Balance

question 154

Essay

Indicate whether the following items would appear on the balance sheet (BS), income statement (IS), or owner's equity statement (OE).
1. Advertising expense
2. Accounts receivable
3. Jones, drawing
4. Rent revenue
5. Salaries payable
6. Supplies

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Definitions:

Short-term Memory

The part of the memory system that is responsible for holding small amounts of information in conscious awareness for a short period of time.

Sensory Registers

The initial processing systems that receive and hold sensory information from the environment for very short periods of time.

Attention

The cognitive process of selectively concentrating on one aspect of the environment while ignoring other things.

Retention

The ability to keep or hold onto information or knowledge over time.