Chapter 5, Problem 12SEA
Indicate with an “X” in the columns of income statement as debit or credit and in balance sheet as debit or credit, a net income or a net loss would appear on a work sheet.
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Chapter 5 Solutions
College Accounting, Chapters 1-27
Ch. 5 - Prob. 1TFCh. 5 - Prob. 2TFCh. 5 - Prob. 3TFCh. 5 - Prob. 4TFCh. 5 - Prob. 5TFCh. 5 - Prob. 1MCCh. 5 - Prob. 2MCCh. 5 - Prob. 3MCCh. 5 - Prob. 4MCCh. 5 - Prob. 5MC
Ch. 5 - Prob. 1CECh. 5 - Prob. 2CECh. 5 - Prob. 3CECh. 5 - Prob. 4CECh. 5 - Prob. 5CECh. 5 - Prob. 6CECh. 5 - Prob. 1RQCh. 5 - Prob. 2RQCh. 5 - Prob. 3RQCh. 5 - Prob. 4RQCh. 5 - Prob. 5RQCh. 5 - Prob. 6RQCh. 5 - Prob. 7RQCh. 5 - Prob. 8RQCh. 5 - Prob. 9RQCh. 5 - Prob. 10RQCh. 5 - Prob. 11RQCh. 5 - Prob. 12RQCh. 5 - Prob. 13RQCh. 5 - Prob. 14RQCh. 5 - Prob. 15RQCh. 5 - Prob. 16RQCh. 5 - Prob. 1SEACh. 5 - Prob. 2SEACh. 5 - Prob. 3SEACh. 5 - Prob. 4SEACh. 5 - Prob. 5SEACh. 5 - Prob. 6SEACh. 5 - Prob. 7SEACh. 5 - Prob. 8SEACh. 5 - Prob. 9SEACh. 5 - Prob. 10SEACh. 5 - Prob. 11SEACh. 5 - Prob. 12SEACh. 5 - Prob. 13SEACh. 5 - Prob. 14SPACh. 5 - Prob. 15SPACh. 5 - Prob. 16SPACh. 5 - Prob. 17SPACh. 5 - Prob. 1SEBCh. 5 - Prob. 2SEBCh. 5 - Prob. 3SEBCh. 5 - Prob. 4SEBCh. 5 - Prob. 5SEBCh. 5 - Prob. 6SEBCh. 5 - Prob. 7SEBCh. 5 - Prob. 8SEBCh. 5 - Prob. 9SEBCh. 5 - Prob. 10SEBCh. 5 - Prob. 11SEBCh. 5 - Prob. 12SEBCh. 5 - Prob. 13SEBCh. 5 - Prob. 14SPBCh. 5 - Prob. 15SPBCh. 5 - Prob. 16SPBCh. 5 - Prob. 17SPBCh. 5 - Prob. 1MYWCh. 5 - Prob. 1MPCh. 5 - Prob. 1CP
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Which type of debit account is balanced in the income statement columns of a work sheet? Liabilities, salaries and wages expense, stockholders equity, revenue
Net income is shown on the work sheet as a a.debit in the Adjustments column. b.debit in the Balance Sheet column. c.debit in the Income Statement column. d.credit in the Income Statement column.
32.In a work sheet, net income is entered in the following columns: a. Income Statement (Dr) and Balance Sheet (Dr) b. Income Statement (Dr) and Balance Sheet (Cr). c. Income Statement (Cr) and Balance Sheet (Cr). d. Income Statement (Cr) and Balance Sheet (Dr).
The net income or net loss reported on the income statement must be the same as the net income or net loss calculated on the work sheet. True or false?
Accumulated Depreciation and Service Fees Earned would be sorted to which respective columns in completing a work sheet? Multiple Choice A. Balance Sheet and Statement of Retained Earnings-Credit and Income Statement-Credit. B. Balance Sheet and Statement of Retained Earnings-Debit and Income Statement-Debit. C. Income Statement-Debit and Income Statement-Credit. D. Balance Sheet and Statement of Retained Earnings-Debit and Balance Sheet and Statement of Retained Earnings-Credit. E. Balance Sheet and Statement of Retained Earnings-Debit; and Income Statement-Credit.
EXTENDING ADJUSTED BALANCES TO THE INCOME STATEMENT ANDBALANCE SHEET COLUMNS Indicate with an “X” whether each account totalshould be extended to the Income Statement Debit or Credit or to the Balance Sheet Debit or Credit columns on the work sheet.
Indicate whether each of the following items is a real ornominal account and whether it appears in the balancesheet or the income statement.(a) Prepaid Rent.(b) Salaries and Wages Payable.(c) Inventory.(d) Accumulated Depreciation—Equipment.(e) Equipment.(f) Service Revenue.(g) Salaries and Wages Expense.(h) Supplies.
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