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Indicate in the table below the financial statement on which each of the following accounts appear.

Account Income Statement Statement of Changes in Owner's Equity Balance Sheet
1. Cash in Bank
2. Utilities Expense
3. Accounts Payable
4. Commissions
5. Capital
6. Withdrawals

Respuesta :

Parrain

Answer:

                                   Income Statement          Statement of            Balance

                                                                             Changes in              Sheet

                                                                           Owner's Equity

1. Cash in Bank                   NO                                 NO                        YES

2. Utilities Expense            YES                                NO                         NO

3. Accounts Payable          NO                                 NO                        YES

4. Commissions                 YES                                NO                        NO

5. Capital                             NO                               YES                       YES

6. Withdrawals                   NO                                 YES                       NO

Cash in bank is an Asset so will be in the balance sheet.

Utilities expense goes to the Income statement alone because that is where expenses go.

Accounts Payable is a liability so will be in the Balance Sheet.

Commission is an expense.

Capital will be shown in both the Statement of Changes in Owner's Equity and the Balance Sheet

Withdrawals are a change in Owners equity and will be shown in the Statement of Changes in Owner's Equity.

  • The classification of the following account in the income statement, statement of change in owner equity, and the balance sheet is presented below:

                                  Income Statement          Statement of            Balance  

                                                                            Changes in              Sheet

                                                                           Owner's Equity

1. Cash in Bank                   NO                                 NO                        YES

2. Utilities Expense            YES                                NO                         NO

3. Accounts Payable          NO                                 NO                        YES

4. Commissions                 YES                                NO                        NO

5. Capital                             NO                               YES                       YES

6. Withdrawals                   NO                                 YES                       NO

In this way it should be categorized.

Learn more: brainly.com/question/13549064

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