The following accounts appear in an adjusted trial balance of Kangaroo Consulting. Indicate whether each account would
Question:
The following accounts appear in an adjusted trial balance of Kangaroo Consulting. Indicate whether each account would be reported in the
(a) Current asset;
(b) Property, plant, and equipment;
(c) Current liability;
(d) Long-term liability;
(e) Stockholders’ equity section of the December 31, 2013, balance sheet of Kangaroo Consulting.
1. Accounts Payable
2. Accounts Receivable
3. Accumulated Depreciation—Building
4. Cash
5. Capital Stock
6. Note Payable (due in 2021)
7. Supplies
8. Wages Payable
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...
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Related Book For
Corporate Financial Accounting
ISBN: 978-1133952411
12th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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