Flow of Accounts into Financial Statements The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, retained earnings statement, or balance sheet. 1. Accumulated Depreciation—Building 2. Cash 3. Fees Earned 4. Insurance Expense 5. Prepaid Rent 6. Supplies 7. Dividends 8. Wages Expense
Flow of Accounts into Financial Statements The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, retained earnings statement, or balance sheet. 1. Accumulated Depreciation—Building 2. Cash 3. Fees Earned 4. Insurance Expense 5. Prepaid Rent 6. Supplies 7. Dividends 8. Wages Expense
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 1PA: Identify whether each of the following accounts would be considered a permanent account (yes/no) and...
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Flow of Accounts into Financial Statements
The balances for the accounts that follow appear in the Adjusted
1. |
|
2. Cash | |
3. Fees Earned | |
4. Insurance Expense | |
5. Prepaid Rent | |
6. Supplies | |
7. Dividends | |
8. Wages Expense |
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