Label each of the items listed with the abbreviation of the financial statement on which it appears. Items may appear on more than one statement. Income Statement (IS) Balance Sheet (BS) Statement of Retained Earnings (RE) (IS) 1. Accounts receivable ▼ (IS) (BS) (RE) (BS) and (IS) (BS) and (RE) (IS) and (RE) (BS) and (IS) (RE) 2. Notes payable ▼ (IS) (BS) (RE) (BS) and (IS) (BS) and (RE) (IS) and (RE) (BS) and (IS) (RE) 3. Advertising expense

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Phelps

Business

24 January, 16:47

Label each of the items listed with the abbreviation of the financial statement on which it appears. Items may appear on more than one statement. Income Statement (IS) Balance Sheet (BS) Statement of Retained Earnings (RE) (IS) 1. Accounts receivable ▼ (IS) (BS) (RE) (BS) and (IS) (BS) and (RE) (IS) and (RE) (BS) and (IS) (RE) 2. Notes payable ▼ (IS) (BS) (RE) (BS) and (IS) (BS) and (RE) (IS) and (RE) (BS) and (IS) (RE) 3. Advertising expense

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Guapo · Answer 1

1. Accounts receivable are found on the balance sheet.

2. Notes payable are found on the balance sheet.

3. Advertising expense is found on income statement