**Educational Content Transcription: Adjusted Trial Balance Assignment**The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each balance should be extended to an Income Statement column or a Balance Sheet column.1. **Retained Earnings**: ________________________2. **Common Stock**: ________________________3. **Depreciation Expense**: ________________________4. **Accumulated Depreciation**: ________________________5. **Fees Earned**: ________________________6. **Unearned Fees**: ________________________7. **Supplies**: ________________________8. **Supplies Expense**: ________________________**Explanation:**In this assignment, students are required to determine to which financial statement each account balance should be extended. Here are some guiding principles:- **Income Statement**: This statement shows the company’s financial performance over a specific accounting period. Typical accounts that appear here include revenue and expense accounts such as Fees Earned and Supplies Expense. - **Balance Sheet**: This statement provides a snapshot of the company’s financial position at a specific point in time. It includes assets, liabilities, and equity accounts such as Common Stock, Retained Earnings, Supplies, and Unearned Fees.**Graph/Diagram Explanation:**The image provided shows a list with blank lines where students should enter either "Income Statement" or "Balance Sheet" next to each account. There are no graphs or intricate diagrams in the image that need additional detailing.---This transcription aims to assist students in understanding where to categorize various account balances in financial statements.

Trial balance is the statement showing the balances of all the accounts in the books of accounts in…

The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each balance should be extended to an Income Statement column or a Balance Sheet column. 1. Retained Earnings 2. Common Stock 3. Depreciation Expense 4. Accumulated Depreciation 5. Fees Earned 6. Unearned Fees 7. Supplies 8. Supplies Expense

The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each balance should be extended to an Income Statement column or a Balance Sheet column. 1. Retained Earnings 2. Common Stock 3. Depreciation Expense 4. Accumulated Depreciation 5. Fees Earned 6. Unearned Fees 7. Supplies 8. Supplies Expense

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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