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, statement of owner’s equity, or balance sheet.
1. Accumulated Depreciation—Building
2. Cash
3. Fees Earned
4. Insurance Expense
5. Prepaid Rent
6. Supplies
7. Vincent Schafer, Drawing
8. Wages Expense
Step by Step Answer:
Accumulated DepreciationBuilding This account represents the total amount of depreciation that has b...View the full answer
Related Video
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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