Indicate the work sheet columns (Income Statement Debit, Income Statement Credit, Balance Sheet Debit, Balance Sheet Credit)

Question:

Indicate the work sheet columns (Income Statement Debit, Income Statement Credit, Debit, Credit) in which the balances of the following accounts should appear:
a. S. Moon, Drawing
b. Utilities Expense
c. Merchandise Inventory (ending)
d. Purchases Discounts
e. Unearned Rent
f. Sales Returns and Allowances
g. Accumulated Depreciation, Equipment
h Income Summary
i. Service Income
j. Prepaid Insurance
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...