Question

The balances for the accounts that follow appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner's equity, or balance sheet. 1. Accounts Payable

Answer 1

1. Accounts Payable BALANCE SHEET under liabilities

2. Depreciation Expense-Equipment INCOME STATEMENT under expenses

3. Gary VD, Capital BALANCE SHEET under owner's equity and/or STATEMENT OF OWNER'S EQUITY depending on the total number of owners of the company

4. Office Equipment BALANCE SHEET under assets

5. Rent Revenue INCOME STATEMENT under revenue

6. Supplies Expense INCOME STATEMENT under expenses

7. Unearned Revenue BALANCE SHEET under liabilities

8. Wages Payable BALANCE SHEET under liabilities