The following accounts appear in an adjusted trial balance of Blaine Auto Service Company. Indicate whether each account would be reported in the (a) current assets, (b) property, plant, and equipment, (c) current liabilities, (d) long-term liabilities, or (e) stockholders' equity section of the December 31 balance sheet of Blaine Auto Service Company.

Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter16: Financial Statement Analysis
Section: Chapter Questions
Problem 4BE
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The following accounts appear in an adjusted trial balance of Blaine Auto Service Company. Indicate whether each account would be reported in the (a) current assets, (b) property, plant, and equipment, (c) current liabilities, (d) long-term liabilities, or (e) stockholders' equity section of the December 31 balance sheet of Blaine Auto Service Company.

1. Retained Earnings
2. Accumulated Depreciation
3. Unearned Revenues
4. Mortgage Payable (due in 6 months)
5. Equipment
6. Notes Payable (due in two years)
7. Cash
8. Accounts Receivable
Transcribed Image Text:1. Retained Earnings 2. Accumulated Depreciation 3. Unearned Revenues 4. Mortgage Payable (due in 6 months) 5. Equipment 6. Notes Payable (due in two years) 7. Cash 8. Accounts Receivable
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