b. Statement of Owner\'s Equity C Balance Sheet d. Trial Balance e General Ledge
ID: 2599173 • Letter: B
Question
b. Statement of Owner's Equity C Balance Sheet d. Trial Balance e General Ledger Interest expense appears on this financial statement . Beginning Capital + Net Income - Withdrawals is the formula for this statement ter preparing journal entries, you post to this Accumulated Depreciation appears on this financial statement This statement shows the change in capital (net worth) for the year 9. The entry to record the return of goods to a creditor would include a: a. Debit to merchandise inventory. b. Credit to merchandise inventory c. Debit to sales. d. Credit to sales 10. An example of a current asset would be a. Supplies b. Inventory c. Prepaid Asset d. all of the above Pag eExplanation / Answer
Interest Exp will report on income statement. All income and expenses account are reported on income statement.
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The balance will be reported on balance sheet on liability side, under equity head
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After journal entry next step is to record them in ledger
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Accumulated depreciation appears on balance sheet (Asset side)
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Statement of stockholders equity
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