College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
expand_more
expand_more
format_list_bulleted
Concept explainers
Videos
Textbook Question
Chapter 11, Problem 4E
Indicate the work sheet columns (Income Statement Debit, Income Statement Credit,
- a. S. Moon, Drawing
- b. Utilities Expense
- c. Merchandise Inventory (ending)
- d. Purchases Discounts
- e. Unearned Rent
- f. Sales Returns and Allowances
- g.
Accumulated Depreciation , Equipment - h. Income Summary
- i. Service Income
- j. Prepaid Insurance
Expert Solution & Answer
Trending nowThis is a popular solution!
Students have asked these similar questions
Which item will appear on the credit side of the ledger account?
a.
Salary
b.
Drawings
c.
Service revenue
d.
Accounts receivable
Several accounts are listed below
a. Purchases Returns and Allowances
b. Sales Discounts
c. Wages Expense
d. Allowance for Doubtful Accounts
e. Unearned Rent
f. Income Taxes Payable
g. Dividends Distributed
h. Interest Revenue
i. Inventory
REQUIRED:
List the accounts above that would normally have a credit balance
The Sales Returns and Allowances account is reported as a
a. Contra-revenue account on the income statement
b. Current liability on the balance sheet
c. Deduction from accounts receivables
d. Selling expense on the incone statement
Chapter 11 Solutions
College Accounting (Book Only): A Career Approach
Ch. 11 - Which of the following is the adjusting entry for...Ch. 11 - The adjusting entry for unearned revenue pertains...Ch. 11 - An account that has unearned in its name is...Ch. 11 - This type of inventory system does not require an...Ch. 11 - The Supplies account has a 1,400 balance. A...Ch. 11 - Prob. 6QYCh. 11 - Prob. 7QYCh. 11 - What is a physical inventory? What does the word...Ch. 11 - Prob. 2DQCh. 11 - Using the perpetual inventory system, what account...
Ch. 11 - Prob. 4DQCh. 11 - Prob. 5DQCh. 11 - Why is it necessary to adjust the Merchandise...Ch. 11 - A merchandising company shows 8,842 in the...Ch. 11 - Prob. 8DQCh. 11 - For the university football programs Unearned...Ch. 11 - On October 31, the Vermillion Igloos Hockey Club...Ch. 11 - Basga Company uses the periodic inventory system....Ch. 11 - Indicate the work sheet columns (Income Statement...Ch. 11 - Journalize the required adjusting entries for the...Ch. 11 - On December 31, the end of the year, the...Ch. 11 - On December 31, Marchant Company took a physical...Ch. 11 - The trial balance of Hadden Company as of December...Ch. 11 - The balances of the ledger accounts of Beldren...Ch. 11 - Prob. 3PACh. 11 - Here are the accounts in the ledger of Mishas...Ch. 11 - A portion of Anderson Publishings work sheet for...Ch. 11 - The trial balance of Jillson Company as of...Ch. 11 - The balances of the ledger accounts of Pelango...Ch. 11 - Prob. 3PBCh. 11 - The accounts and their balances in the ledger of...Ch. 11 - A portion of Johnsons Farm Supply work sheet for...Ch. 11 - BURTS BEES, Durham, North Carolina Burts Bees...Ch. 11 - Prob. 2ACh. 11 - Prob. 3ACh. 11 - Prob. 4ACh. 11 - Prob. 5ACh. 11 - Adjusting Entries Two months (July and August)...
Additional Business Textbook Solutions
Find more solutions based on key concepts
The amount that should be recorded by Company R for building under historical cost principle.
Financial Accounting (11th Edition)
Ravenna Candles recently purchased candleholders for resale in its shops. Which of the following costs would be...
Financial Accounting (12th Edition) (What's New in Accounting)
Preparing Financial Statements from a Trial Balance The following accounts are taken from Equilibrium Riding, I...
Fundamentals of Financial Accounting
List five asset accounts, three liability accounts, and five expense accounts included in the acquisition and p...
Auditing And Assurance Services
E6-14 Using accounting vocabulary
Learning Objective 1, 2
Match the accounting terms with the corresponding d...
Horngren's Accounting (11th Edition)
18. What is the calculation for return on assets (ROA)? Explain what ROA measures.
Horngren's Financial & Managerial Accounting, The Financial Chapters (Book & Access Card)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Similar questions
- On the work sheet, assets are recorded in which of the following columns? a. Trial Balance, Credit b. Income Statement, Debit c. Balance Sheet, Debit d. Adjusted Trial Balance, Creditarrow_forwardClassify each of the accounts listed below as assets (A), liabilities (L), owners equity (OE), revenue (R), or expenses (E). Indicate the normal debit or credit balance of each account. Indicate whether each account will appear in the Income Statement columns (IS) or the Balance Sheet columns (BS) of the work sheet. Item 0 is given as an example.arrow_forwardClassify each of the accounts listed below as assets (A), liabilities (L), owners equity (OE), revenue (R), or expenses (E). Indicate the normal debit or credit balance of each account. Indicate whether each account will appear in the Income Statement columns (IS) or the Balance Sheet columns (BS) of the work sheet. Item 0 is given as an example.arrow_forward
- Indicate the normal balance and category of each of the following accounts: CATEGORy options ARE: asset, contra-expense, contra-revenue, expense, liability, revenue. Account Normal Balance Category a. Sales Returns and Allowances b. Merchandise Inventory c. Miscellaneous Income d. Payroll Tax Expense e. Sales Discounts f. Cost of Goods Sold g. Income Tax Payable h. Prepaid Expensesarrow_forwardWhich of the following accounts has a normal debit balance? A. Interest Revenue B. Inventory C. Sales D. Accounts Payablearrow_forwardWhich of the following best describes the classification and normal balance of the accounts receivable account? Select one: a. Asset, Debit b. Liability, credit c. Revenue, credit d. Owner's equity, debitarrow_forward
- Match each of the five items listed below with one of the following locations: 1. Located on the Income Statement debit column of the worksheet 2. Located on the Income Statement credit column of the worksheet 3. Located on the Balance Sheet debit column of the worksheet 4. Located on the Balance Sheet credit column of the worksheet a. Sales Returns and Allowances b. Accrued Salaries Payable c. Sales d. Merchandise Inventory e. Accounts Receivable a. Sales Returns and Allowance 1. Located on the Income Statement debit column of the worksheet 2. Located on the Income Statement credit column of the worksheet 3. Located on the Balance Sheet debit column of the worksheet 4. Located on the Balance Sheet credit column of the…arrow_forwardSelect the best answer for the question 6. An example of a contra-revenue account found on the Income Statement is the O A. Sales Returns and Allowances. OB. Purchase Returns and Allowances. OC. Transportation-in ⒸD. Uncollectible Accounts Expense. Mark for review (Will be highlighted Next Questionesarrow_forwardSales Returns and Allowances account is report it like a. contra-revenue account on the income statement. b. current liability on the balance sheet. c. deduction from accounts receivable on the balance sheet. d. selling expense on the income statement.arrow_forward
- Which type of credit account is balanced in the last two columns of a worksheet? O A. Expense B. Revenue C. Accounts payable D. Accounts receivablearrow_forwardThe following items are found in the account sales, except a. Total sales. b. Amount due to consignor. c. Commission of consignee. d. Expenses of the consignor.arrow_forwardIdentify the items from the following list that are likely to serve as source documents. Item a. Sales receipt b. Liability accounts c. Balance sheet d. Ledger e. Bank statement f. General journal g. Income statement h. Telephone bill i. Credit card receipt Is this a source document?arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
College Accounting (Book Only): A Career ApproachAccountingISBN:9781337280570Author:Scott, Cathy J.Publisher:South-Western College Pub
College Accounting (Book Only): A Career ApproachAccountingISBN:9781305084087Author:Cathy J. ScottPublisher:Cengage Learning
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:South-Western College Pub
College Accounting (Book Only): A Career Approach
Accounting
ISBN:9781305084087
Author:Cathy J. Scott
Publisher:Cengage Learning
The KEY to Understanding Financial Statements; Author: Accounting Stuff;https://www.youtube.com/watch?v=_F6a0ddbjtI;License: Standard Youtube License