The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period

Question:

The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet (work sheet). Indicate whether each balance should be extended to
(a) An Income Statement column
(b) A column.
1. Cash
2. Insurance Expense
3. Prepaid Rent
4. Supplies
5. Commissions Earned
6. Accumulated Depreciation-Equipment
7. Christina Egan, Drawing
8. Wages Expense

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...