Question

7:47 PM v2.cengagenow.com * 84% CU + dgeland... Walnut Ho m .youtube. s3.amazon... Unlimited. Cengage Cengag... Cengage Income Statement Items From the following list of selected items taken from the records of Rosewood Appliance Service as of a specific date, identify those items that would appear on the income statement. 1. Accounts Payable Would appear on the income statement. 2. Accounts Receivable 3. Andrew King, Capital Would appear on the income statement 4. Cash Would NOT appear on the income statement. 5. Fees Earned 6. Land 7. Rent Expense 8. Supplies 9. Wages Expense 10. Wages Payable

Answer 1

-Answer 1 Balance Sheet Dulance sheet shows ficandal..position of the busine daving the relevant period. It is also known 45 mimoria businesse Balance Sheeten indyder_assets, liabilities and star Lequity to rent -Assels are are the business Investments made for burinn Liabilities are the amount talenfrom ouloldent or insidewir ini Stockhollers Eqully ti amount_pyte 19 6457905 by the owners Income statement Income Stylement shows the $1990.014/ lylle achieved I by the builhej by conduching Vad byOperations. It incuter income, expenses, gains and losses L I ncome means revenue corned by the 64179015 though - Higles, etc. Expenses me995 expendi byre 19 cened to caur jich zevendes In the question Rosewed Appliance sonice - Identification of items theli would appegu on Incoge Sitzhement Item Answer Explanation Item Accounts Payable would not appear on the income statement It is the ligbility for business as the company has purchased | supplies on netit. 12.| Accounts I would not popcer on 1 Receivable the income statement L It is the asset for the business. The company will received | such qmovat in future from credit 39/.

--- Aliew king Capitol would not appear | It is the stockholder's equityas o gia come statement the owner has combybyted copialia كعولها Would not appear on the income - stalemegten It is the asset for the business from this source compty + may invest fuabi lelker Farnall Would appear on the It is the income for the busters to come statement as the company receives wych IMOVAL Hby conducting operations 6. Land Would not appear on it is the qiset for the company the income sta frescatat company invests amount 14 propeile - t Rent y expense Would appear on the Income Stylement It is the expense for the camping- which incarrel to lonel income. 8. Supplies would not appear on income statement. It is the quet for the company. It shows balance of inventory in hand. 2. Wages Expense I would appear on the income statement It is the expense for the company as company pays to eq19 income to workers Wager Payable Would not appear on income statement . It is liability of business as the company will have to pay wages in the future to workert. Answer : Items woy D_appear_09_Income Statement are : 5 fees Earned 7. Rent Expense 9. Wages Expense