Indicate the financial statement on which each of the following items appears: income statement, statement of owner's equity, or balance sheet. a. Supplies b. Supplies Expense c. Taxes Expense d. Taxes Payable e. Trucks f. Unearned Revenue g. Unearned Subscription Revenue h. Unearned Ticket Revenue i. Utilities Expense j. Utilities Payable k. Wages Expense 1. Wages Payable

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Indicate the financial statement on which each of the
following items appears: income statement, statement of
owner's equity, or balance sheet.
a. Supplies
b. Supplies Expense
c. Taxes Expense
d. Taxes Payable
e. Trucks
f. Unearned Revenue
g. Unearned Subscription Revenue
h. Unearned Ticket Revenue
i. Utilities Expense
j. Utilities Payable
k. Wages Expense
1. Wages Payable
Transcribed Image Text:Indicate the financial statement on which each of the following items appears: income statement, statement of owner's equity, or balance sheet. a. Supplies b. Supplies Expense c. Taxes Expense d. Taxes Payable e. Trucks f. Unearned Revenue g. Unearned Subscription Revenue h. Unearned Ticket Revenue i. Utilities Expense j. Utilities Payable k. Wages Expense 1. Wages Payable
Expert Solution
Step 1

>Accounts are shown as Revenue, Expense, Assets, Liabilities or Equity account based on their nature.

>Revenue accounts and Expense accounts are shown under Income Statement.

>Asset, Liabilities & Equity accounts are shown on Balance Sheet.

 

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