The trial balance of Beowulf Company includes the following balance sheet accounts, which may require adjustment. For

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The trial balance of Beowulf Company includes the following balance sheet accounts, which may require adjustment. For each account that requires adjustment, indicate 

(a) The type of adjusting entry (prepaid expense, unearned revenue, accrued revenue, or accrued expense)

(b) The related account in the adjusting entry. 

Accounts Receivable

Prepaid Insurance  

Interest Payable

Unearned Service Revenue

Accumulated Depreciation—Equipment

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...
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Accounting Principles

ISBN: 978-1119411482

13th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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