Chapter 4, Problem 1E

These 16 accounts are from the Adjusted Trial Balance columns of a company’s work sheet. In the blank space beside each account, enter the letter of the financial statement column (A, B. C, or D) where a normal account balance is extended.

1. A. Debit column for the Income Statement columns.
2. B. Credit column for the Income Statement columns.
3. C. Debit column for the Balance Sheet and Statement of Owner’s Equity columns.
4. D. Credit column for the Balance Sheet and Statement of Owner’s Equity columns.

  ______ 1.     Interest Revenue

  ______ 2.     Machinery

  ______ 3.     Owner, Withdrawals

  ______ 4.     Depreciation Expense

  ______ 5.     Accounts Payable

  ______ 6.     Service Fees Revenue

  ______ 7.     Owner, Capital

  ______ 8.     Interest Expense

  ______ 9.     Accounts Receivable

  ______ 10.     Accumulated Depreciation

  ______ 11.     Office Supplies

  ______ 12.     Insurance Expense

  ______ 13.     Interest Receivable

  ______ 14.     Cash

  ______ 15.     Rent Expense

  ______ 16.     Wages Payable