Identify the accounts below, which accounts require adjusting entries (AJP) and closing entries (JP), which financial statements
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Identify the accounts below, which accounts require adjusting entries (AJP) and closing entries (JP), which financial statements will be in, and where the normal balances of these accounts are.
No | Account | Adjusting Journal Entry (AJP) / Closing Journal (JP) | Financial Statement | Normal Balance |
1 | Prepaid insurance | |||
2 | Capital | |||
3 | Prive | |||
4 | Account payable | |||
5 | Cash | |||
6 | Unearned revenue | |||
7 | Supplies | |||
8 | Land | |||
9 | Account receivable | |||
10 | Salaries expense | |||
11 | Insurance expense | |||
12 | Gain on sale of equipment | |||
13 | Sales revenue | |||
14 | Supplies expense | |||
15 | Accrued expense |
Related Book For
Financial Accounting
ISBN: 9781618533111
6th Edition
Authors: Michelle L. Hanlon, Robert P. Magee, Glenn M. Pfeiffer, Thomas R. Dyckman
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