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Show Which Columns Would Contain the Adjusted Balances by Placing

Question 159

Essay

Show which columns would contain the adjusted balances by placing an "x" in the appropriate column. Assume all accounts have normal balances.

   Income Statement  Balance Sheet
   Debit  Credit  Debit  Credit
 Cash (example)   ________   ________  ___x____  ________
 Accounts Receivable   ________   ________   ________  ________
 Office Supplies   ________   ________   ________  ________
 Prepaid Rent   ________   ________   ________  ________
 Word Processing Equipment   ________   ________   ________  ________
 Accounts Payable   ________   ________   ________  ________
 M. Bryant, Capital   ________   ________   ________  ________
 M. Bryant, Withdrawals   ________   ________   ________  ________
 Word Processing Fees   ________   ________   ________  ________
 Office Salaries Expense   ________   ________   ________  ________
 Advertising Expense   ________   ________   ________  ________
 Accumulated Depreciation   ________   ________   ________  ________
 Rent Expense   ________   ________   ________  ________

Correct Answer:

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