Solved

The Following Accounts Appear in an Adjusted Trial Balance of Blaine

Question 104

Essay

The following accounts appear in an adjusted trial balance of Blaine Auto Service Company. Indicate whether each account would be reported in the
(a) current assets,
(b) property, plant, and equipment,
(c) current liabilities,
(d) long-term liabilities, or
(e) owner's equity section of the December 31 balance sheet of Blaine Auto Service Company.
1.Blaine Brock, Capital
2.Accumulated Depreciation
3.Unearned Revenues
4.Mortgage Payable
5.Equipment
6.Notes Payable
(due in two years)
7.Cash
8.Accounts Receivable

Correct Answer:

verifed

Verified

1.
(e) Owner's equity
2.
(b) Property, p...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions