Extending adjusted account balnce on a work sheet These 16 accounts are from the Adjusted Trial Balance
Question:
Extending adjusted account balnce on a work sheet These 16 accounts are from the Adjusted Trial Balance columns of a company’s 10-column work sheet.
In the blank space beside each account, write the letter of the appropriate financial statement column (A, B, C, or D) to which a normal account balance is extended.
A. Debit column for the Income Statement columns.
B. Credit column for the Income Statement columns.
C. Debit column for the Balance Sheet and Statement of Owner’s Equity columns.
D. Credit column for the Balance Sheet and Statement of Owner’s Equity columns.
1. Interest Revenue
2. Machinery
3. Owner, Withdrawals
4, Depreciation Expense
5. Accounts Payable
6. Service Fees Revenue
7. Owner, Capital aioe
8. Interest Expense
9. Accounts Receivable
10. Accumulated Depreciation
11. Office Supplies
12. Insurance Expense
13. Interest Receivable
14. Cash
15. Rent Expense
16. Wages Payable
Step by Step Answer:
College Accounting Ch 1-14
ISBN: 9781260904314
1st Edition
Authors: John Wild, Vernon Richardson, Ken Shaw