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________(6) T. Bubbles, Drawing________(2)Fees Income________(7) Prepaid Rent________(3)Accounts Receivable________(8) Cash________(4)Utilities Expense________(9) Office Supplies________(5)Accounts Payable________(10) Equipment________
What will be an ideal response?
| (1) IS |
(3) BS
(4) IS
(5) BS
(6) OE
(7) BS
(8) BS
(9) BS
(10) BS
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