The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period
Question:
The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, retained earnings statement, or balance sheet.
1. Accounts Receivable
2. Depreciation Expense—Equipment
3. Capital Stock
4. Office Equipment
5. Rent Revenue
6. Supplies Expense
7. Unearned Revenue
8. Wages Payable
Step by Step Answer:
1 Accounts receivable would flow into the balance sheet becaus...View the full answer
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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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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