Assuming the adjusted trial balance amount for each account is normal, indicate with an "X" the financial statement column to which each balance should be extended on the worksheet. Income Statement Balance SheetAccount Titles Debit Credit Debit CreditAccounts Receivable select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary Prepaid Insurance select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary Accumulated Depreciation—Equipment select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary Salaries and Wages Payable select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary Service Revenue select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary Salaries and Wages Expense select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary Insurance Expense select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary Depreciation Expense select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary select an "X" if it is necessary

Financial statements are those statements which are prepared at the end of the period for the review…

Answered: each | bartleby

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Assuming the adjusted trial balance amount for each account is normal, indicate with an "X" the financial statement column to which each balance should be extended on the worksheet.

	Income Statement	Balance Sheet
Account Titles	Debit	Credit	Debit	Credit
Accounts Receivable	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary
Prepaid Insurance	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary
Accumulated Depreciation—Equipment	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary
Salaries and Wages Payable	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary
Service Revenue	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary
Salaries and Wages Expense	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary
Insurance Expense	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary
Depreciation Expense	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary	select an "X" if it is necessary