EXERCISE 4-1 LO 2 Practice Exercise 2 1. List the following classifications of accounts in all of the columns in which they appear on the work sheet, with the exception of the Adjustments columns. (Example: Assets) Assets Capital Accumulated Depreciation Drawing (with previous balance) Revenue Liabilities Expenses 2. List Net Income in the appropriate columns Show HOW B 4 D 5 ACCOUNT NAME TRIAL BALANCE DEBIT CREDIT Ascots ADJUSTMENTS DEDIT CREDIT ADJUSTED TRIAL BALANCE DEBIT CREDIT INCOME STATEMENT DEBIT CREDIT BALANCE SHEET DEBIT CREDIT 10 11 12 13 14 Net Income 16 Sheet1 Sheet2 Sheet