In preparing a work sheet, indicate the financial statement Debit column to which a normal balance in

Question:

In preparing a work sheet, indicate the financial statement Debit column to which a normal balance in the following accounts should be extended. Use I for the Income Statement Debit column and B for the Balance Sheet Debit column.

______ a. Depreciation expense—Equipment

______ b. Accounts receivable
______ c. Insurance expense

______ d. Equipment

______ e. Dividends

______ f. Prepaid rent

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that... Balance Sheet
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...