Question: Based on the data presented in Exercise, identify those items that would appear on the income statement.
Exercise: From the following list of selected items taken from the records of Ishmael Appliance Service as of a specific date, identify those that would appear on the balance sheet.
1. Supplies
2. Wages Expense
3. Cash
4. Land
5. Utilities Expense 10. Wages Payable
6. Fees Earned
7. Supplies Expense
8. Accounts Payable
9. Capital Stock