In the trial balance the balances of accounts are classified as follows, except one statement: a. Under debit balances: expense and asset accounts; under credit balances: liability, income, and capital accounts O b. Under credit balances: Income, capital, and liabilities O c. Under debit balances: Asset and expenses O d. Under credit balances: Only capital and income

In the trial balance the balances of accounts are classified as follows, except one statement: a. Under debit balances: expense and asset accounts; under credit balances: liability, income, and capital accounts O b. Under credit balances: Income, capital, and liabilities O c. Under debit balances: Asset and expenses O d. Under credit balances: Only capital and income

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter4: Adjusting Entries And The Work Sheet

Section: Chapter Questions

Problem 3QY: On the work sheet, assets are recorded in which of the following columns? a. Trial Balance, Credit...

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