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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Preparation and Interpretation of Financial Statements
P6. A list of financial statement items follows.
Wages expense Equipment
Equipment rental expense Net income
Land
Owner’s capital Revenues
Accounts receivable
reQUIreD
Accounts payable Rent expense Withdrawals Fees earned
Cash Supplies
Utilities expense
1. Indicate whether each item is found on the income statement (IS), statement of owner’s equity (OE), and/or balance sheet (BS).
2. Business AppliCAtion ▶ Which statement is most closely associated with the goal of profitability?
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