Learnx b Xwhat is stockholders equi x M Inbox (1662) - galomikey xgroup portrait of doctors pm/webapps/ubsh-Iti-integration-BBLEARN//app/content/launchHandler?course id _132178 1&content id- 5222818ISPowered by BbeCampusePortfolios Community Content Collections> HW Assignment 3MenuAnalyze an Adjusted Trial BalanceThe trial balance of Fisher Supplies contains the following balance sheetaccounts that require adjustment. Identify the likely income statement accountthat will be used to adjust these accounts.a. Prepaid InsuranceInsurance expenseb. Accumulated DepreciationDepreciation expensec. SuppliesSupplies expensed. Unearned RevenueIncome tax expensexe. Interest PayableInterest expense[DPrtScF3F5F6F8F9F10F11F12
The possible answers for option D are:
Cost of Goods Sold
Depreciation Expense
Earned Revenue
Income Tax Expense
Insurance Expense
Interest Expense
Supplies Expense
Wage Expense
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Learn x b Xwhat is stockholders equi x M Inbox (1662) - galomikey x group portrait of doctors p m/webapps/ubsh-Iti-integration-BBLEARN//app/content/launchHandler?course id _132178 1&content id- 5222818 IS Powered by Bb eCampus ePortfolios Community Content Collection s> HW Assignment 3 Menu Analyze an Adjusted Trial Balance The trial balance of Fisher Supplies contains the following balance sheet accounts that require adjustment. Identify the likely income statement account that will be used to adjust these accounts. a. Prepaid Insurance Insurance expense b. Accumulated Depreciation Depreciation expense c. Supplies Supplies expense d. Unearned Revenue Income tax expensex e. Interest Payable Interest expense [D PrtSc F3 F5 F6 F8 F9 F10 F11 F12
Step1:
The likely income statement account that will be used to adjust unearned revenue (balance sheet account) will be earned revenue. It is because, unearned revenue is a liability account...
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Accounting
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