37) Indicate with an “X" whether each item is an asset, liability or shareholders' equity account. There is only one correct answer for each. Item: Asset Liability Shareholders' equity 1. Dividends 2. Accounts receivable 3. Contributed capital 4. Note payable 5. Wages expense 6. Wages payable 7. Prepaid insurance 8. Insurance expense 9. Accounts payable 10. Retained earnings 38) Identify the appropriate financial statement for each of the items listed below. Some items may be found on more than one financial statement. a.Balance sheet b.Income statement c.Statement of changes in shareholders' equity d.Statement of cash flows _____ 1. Cash paid for supplies _____ 2. Net income _____ 3. Sales revenue _____ 4. Rent expense _____ 5. Inventory _____ 6. Retained earnings _____ 7. Cash received from customers _____ 8. Cash

37) Indicate with an “X" whether each item is an asset, liability or shareholders' equity account. There is only one correct answer for each. Item: Asset Liability ...

37) Indicate with an “X" whether each item is an asset, liability or shareholders' equity account. There is only one correct answer for each.

38) Identify the appropriate financial statement for each of the items listed below. Some items may be found on more than one financial statement.

a.Balance sheet

b.Income statement

c.Statement of changes in shareholders' equity

d.Statement of cash flows

_____ 1. Cash paid for supplies

_____ 2. Net income

_____ 3. Sales revenue

_____ 4. Rent expense

_____ 5. Inventory

_____ 6. Retained earnings

_____ 7. Cash received from customers

_____ 8. Cash

May 15, 2022