A balance sheet where assets and liabilities are broken down into more detail is called a comprehensive balance sheet. True False The entry to record the adjustment for depreciation on equipment would be a debit to Depreciation Expense-Equipment and a credit to Equipment. True False Beginning inventory is adjusted by debiting Merchandise Inventory and crediting Income Summary. True False The adjusting entry to record Service income that is earned would involve a debit to Service Income and a credit to Uneared Service Revenue. True False Administration expenses are found in the Operating Expense section of the income statement. True False Reversing entries are the opposite of adjusting entries. True False