Eiler Copy Service has completed its work sheet. It is now ready to prepare the income statement and balance sheet. The alphabetical list of accounts shown here is taken from the Eiler Copy Service work sheet. Select the statement and in which section each account will appear. For any account that does not appear on either statement, select neither.
Homework Answers
| Accounts - | Classification - |
| Accounts payable - Supplies plus | Balance Sheet - Liabilities |
| Accounts receivable - S. Romano | Balance Sheet - Assets |
| Advertising expense | Income Statement - Expenses |
| Cash | Balance Sheet - Assets |
| Cash short and over | Income Statement - Expenses |
| Cheryl Eiler, capital | Balance Sheet - Owner's equity |
| Cheryl Eiler, drawing | Balance Sheet - Owner's equity |
| Income summary | Neither - Debited for Total Expenses; Credited for Total Revenues |
| Insurance expense | Income Statement - Expenses |
| Miscellaneous expense | Income Statement - Expenses |
| Petty cash | Balance Sheet - Assets |
| Prepaid insurance | Balance Sheet - Assets |
| Sales | Income Statement - Revenue |
| Supplies expense | Income Statement - Expenses |
| Utilities expense | Income Statement - Expenses |
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Eiler Copy Service has completed its work sheet. It is now ready
to prepare the income...
Carlos Perez Delivery Service Work Sheet (Partial) For Month Ended January 31, 2017 Income Statement Account...
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Indicate with an “X” whether each account total should be extended to the income statement debit...
Indicate with an “X” whether each account total should be extended
to the income statement debit or credit or to the balance sheet
debit or credit columns on the work sheet.
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Monet Paints Co. is a newly organized business with a list of accounts arranged in alphabetical...
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the template adjusted trail balance, prepare an Income Statement, Owner's Equity Statement, and CLASSIFIED Balance Sheet...
the template
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Indicate with an “X” whether each account total should be extended
to the income statement debit or credit or to the balance sheet
debit or credit columns on the work sheet.
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Monet Paints Co. is a newly organized business with a list of accounts arranged in alphabetical order, as follows: Assign account numbers and specify whether each account would appear on the balance sheet or income statement, as ilustrated below. Each account number is three digits: the first it is to indicate the major desification (1 for assets, and so on); the second digit is to indicate the subdassification (11 for current assets, and so on); and the third it is...
Chart of Accounts Monet Paints Co. is a newly organized business with a list of accounts arranged in alphabetical order, as follows: Assign account numbers and specify whether each account would appear on the balance sheet or income statement order, as illustrated below. Each account number is three digits: the first digit is to indicate the major classification (1 for assets, for example); the second digit is to indicate the subclassification (11 for current assets, for example); and the third...
the template
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1.prepare income statement
2.Prepare owner's equity statement
3. Prepare balance sheet
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