The following accounts appear in an adjusted trial balance of Waterloo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner’s equity section of the December 31, 2018, balance sheet of Waterloo Consulting.1. Building2. Cindy Sue Delaney, Capital3. Notes Payable (due in five years)4. Prepaid Rent5. Salaries Payable6. Supplies7. Taxes Payable8. Unearned Service Fees

Principles of Accounting Volume 1
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ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 11EA: For each of the following accounts, identify in which section of the classified balance sheet it...
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The following accounts appear in an adjusted trial balance of Waterloo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner’s equity section of the December 31, 2018, balance sheet of Waterloo Consulting.
1. Building
2. Cindy Sue Delaney, Capital
3. Notes Payable (due in five years)
4. Prepaid Rent
5. Salaries Payable
6. Supplies
7. Taxes Payable
8. Unearned Service Fees

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