The following selected accounts appear in the adjusted trial balance columns of the worksheet for McQueen Company:
Question:
The following selected accounts appear in the adjusted trial balance columns of the worksheet for McQueen Company: Accumulated Depreciation; Depreciation Expense; Owner’s Capital; Owner’s Drawings; Service Revenue; Supplies; and Accounts Payable. Indicate the financial statement column (income statement Dr., balance sheet Cr., etc.) to which each balance should be extended.
Step by Step Answer:
The Various accounts to be shown in the Dr and Cr Columns ...View the full answer
Accounting Principles
ISBN: 978-0470534793
10th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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A trial balance is a list of all the general ledger accounts contained in the ledger of a business. This list will contain the name of each nominal ledger account and the value of that nominal ledger balance. Each nominal ledger account will hold either a debit balance or a credit balance
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