The Balances for the Accounts Listed Below Appear in the Trial

question 21

Short Answer

The balances for the accounts listed below appear in the trial balance of Bubbles, Inc. Identify whether each balance would appear on the Income Statement (IS), the Balance Sheet (BS)or the Statement of Owner's Equity (OE), by entering the appropriate letters in the spaces below. (There is only one correct answer for each)
(1) Salaries Expense______ $\quad$$\quad$$\quad$ (6) T. Bubbles, Drawing______
(2) Fees Income______ $\quad$$\quad$$\quad$$\quad$$\quad$ (7) Prepaid Rent______
(3) Accounts Receivable______ $\quad$$\quad$ (8) Cash______
(4) Utilities Expense______ $\quad$$\quad$$\quad$ (9) Omice Supplies______
(5) Accounts Payable______ $\quad$$\quad$$\quad$ (10) Equipment______

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Definitions:

Universal Principles

Fundamental concepts or norms that are universally accepted and upheld across different cultures and societies.

Interactional Justice

The perception of fairness in interpersonal interactions and treatment by authorities, focusing on respect and dignity in communication.

Employment Relationship

The legal and practical relationship between employer and employee, characterized by the exchange of labor for compensation, and governed by contract and labor laws.

Ethical Lapses

Instances of poor judgment or failure to act appropriately, leading to actions or decisions that violate ethical standards.