Chapter 1, Problem S1.11SE

Identifying accounts on the financial statements

Learning Objective 5

Consider the following accounts:

a. Accounts Payable
b. Cash
c. Owner, Capital
d. Accounts Receivable
e. Rent Expense
f. Service Revenue
g. Office Supplies
h. Owner, Withdrawals
i. Land
j. Salaries Expense

Identify the financial statement (or statements) that each account would appear on. Use I for Income Statement, OE for Statement of Owner's Equity, B for Balance Sheet, and C for Statement of Cash Flows.

Use the following information to answer Short Exercises S1-12through S1 -14.

Centerpiece Arrangements has just completed operations for the year ended December 31,2018. This is the third year of operations for the company The following data have been assembled for the business:

Insurance Expense	$4,500	Salaries Expense	$46,000
Service Revenue	70,000	Accounts Payable	17,600
Utilities Expense	1,400	Office Supplies	1,700
Rent Expense	16,000	Right, Withdrawals	4,800
Right, Capital, Jan. 1,2018	9,000	Accounts Receivable	8,000
Cash	7,200	Equipment	12,100
Owner contribution	5,100