Which of the following statements regarding the flow of information from the adjusted trial balance on the end-of-period spreadsheet is NOT true? a.The cash account is reported on the income statement. b.The owner's capital and drawing account balances flow into the statement of owner's equity. c.The asset and liability account balances flow into the balance sheet. d.The revenue and expense account balances flow into the income statement.

"How does adjusting entries affect the six main categories of accounting? Think about what accruals and deferrals do both individually to accounts and overall to the financial statements."

1. Post-closing trial balance include all of the following account, except a. assetb. liabilitiesc. capitald. withdrawal   2. Which adjusting journal entries are subject to reversing entries? a. Accrual of incomeb. Deferral of income – liability methodc. Deferral of expense – asset methodd. Depreciation expense   3. On column 7 and 8 of worksheet or the Income Statement columns, what is the financial performance if debit is greater than credit? a. Breakevenb. Net Incomec. Net Lossd. Gross Income   4. On column 9 and 10 of worksheet or the Balance Sheet columns, what is the difference if debit is greater than credit? a. Breakevenb. Net Incomec. Net Lossd. Gross Income

Indicate the financial statement on which each of the following items appears. income statement,statement of owner’s equity, and balance sheet. Accounts Receivable