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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.
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Wages expense Equipment
Equipment rental expense Net income
Land
Owner’s capital Revenues
Accounts receivable
reQUIreD
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Accounts payable Rent expense Withdrawals Fees earned
Cash Supplies
Utilities expense
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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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