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The Following Accounts Appear on Either the Income Statement (IS)or

question 135

Short Answer

The following accounts appear on either the Income Statement (IS)or Balance Sheet
(BS).In the space provided next to each account write the letters,IS or BS,that identify the
statement on which the account appears.
____ 1.Office Equipment
____ 2.Rent Expense
____ 3.Unearned Fees Revenues
____ 4.Rent Expense
____ 5.Accounts Payable
____ 6.Owner,Capital
____ 7.Fees Revenue
____ 8.Cash
____ 9.Notes Receivable
____ 10.Wages Payable

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Definitions:

Multiplying

The mathematical operation of increasing one number by the value of another, resulting in a total that is the product of the two numbers.

Kilo-

A prefix in the metric system representing one thousand (1000) of the unit it precedes.

Decimal

Numbers that are expressed as a fraction of a part using 10 as its base number; it also refers to the period used to separate a whole number from a fraction, as in 10.2, otherwise read as “ten and two-tenths.”

Fraction

A numerical quantity that is not a whole number, representing a part of a whole.

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