In preparing a work sheet, indicate the financial statement Debit column to which a normal balance in the following accounts should be extended Use IS for the Income Statement Debit column and BS for the Balance Sheet and Statement of Owners Equity Debit column a Insurance expense b Equipment c Owner, Withdrawals d Depreciation expenseEquipment e Prepaid rent f Accounts receivable

Question: In preparing a work sheet, indicate the financial statement Debit column to which a normal balance in the following accounts should be extended. Use IS

In preparing a work sheet, indicate the financial statement Debit column to which a normal balance in the following accounts should be extended. Use IS for the Income Statement Debit column and BS for the and Statement of Owner’s Equity Debit column.
________ a. Insurance expense
________ b. Equipment
________ c. Owner, Withdrawals
________ d. Depreciation expense—Equipment
________ e. Prepaid rent
________ f. Accounts receivable

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