When a company expenses the cost of maintenance for its heating and cooling system, thatcost will appear on itsa. Income statement.b. Statement of retained earnings.c. Balance sheet.d. Statement of stockholders’ equity.

The __________ is used to determine a sole proprietor’s or company’s worth by listing all the assets and liabilities.   a income statement   b balance sheet   c productivity analysis   d budget forecast

Which financial statement is associated with each of the descriptions below? a. Operating activities, investing activities, and financing activities b. Assets, liabilities, and stockholders’ equity c. Revenues and expenses d. Net income, dividends, and beginning retained earnings

Identifying and Classifying Financial Statement Items For each of the following items, indicate whether they would be reported in the balance sheet (B) or income statement (1). (a) Machinery (b) Supplies expense (c) Inventories (d) Sales (e) Common stock (f) Factory buildings (g) Receivables (h) Taxes payable (i) Taxes expense (i) Cost of goods sold (k) Long-term debt (1) Treasury stock ◆ ◆ ◆ ♦ ♦ ◆ ◆ ♦ ♦