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Which financial statements would include the following accounts?

a. Unearned Revenue
b. Gain on Sale of Investment
c. Rent Expense

User Intekhab
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1 Answer

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Final answer:

Unearned Revenue would be found on the balance sheet as a liability, Gain on Sale of Investment, and Rent Expense would both be reported on the income statement, reflecting profits from investments and operating expenses, respectively.

Step-by-step explanation:

The accounts mentioned in the question would be included in different financial statements as follows:

Unearned Revenue would appear on the balance sheet because it represents a liability. This account refers to money received by a company for goods or services that have not yet been delivered or performed.

Gain on Sale of Investment would be reported on the income statement. It reflects the profit a company makes from selling investments such as stocks, bonds, or real estate for more than their original purchase price.

Rent Expense would also be included on the income statement as an operating expense incurred during the period.

To ensure we mention the correct option in the final answer, the inclusion of Unearned Revenue, Gain on Sale of Investment, and Rent Expense can be found on the Balance Sheet and Income Statement, respectively.

User Spekdrum
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