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The following accounts appear in an adjusted trial balance of Kangaroo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner’s equity section of the December 31, 2018, balance sheet of Kangaroo Consulting.1. Accounts Payable2. Accounts Receivable3. Accumulated Depreciation—Building4. Cash5. Lea Gabel, Capital6. Note Payable (due in ten years)7. Supplies8. Wages Payable

The following accounts appear in an adjusted trial balance of Kangaroo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner’s equity section of the December 31, 2018, balance sheet of Kangaroo Consulting.1. Accounts Payable2. Accounts Receivable3. Accumulated Depreciation—Building4. Cash5. Lea Gabel, Capital6. Note Payable (due in ten years)7. Supplies8. Wages Payable

Principles of Accounting Volume 1
Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter5: Completing The Accounting Cycle
Section: Chapter Questions
Problem 11EA: For each of the following accounts, identify in which section of the classified balance sheet it...
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The following accounts appear in an adjusted trial balance of Kangaroo Consulting. Indicate whether each account would be reported in the (a) current asset; (b) property, plant, and equipment; (c) current liability; (d) long-term liability; or (e) owner’s equity section of the December 31, 2018, balance sheet of Kangaroo Consulting.
1. Accounts Payable
2. Accounts Receivable
3. Accumulated Depreciation—Building
4. Cash
5. Lea Gabel, Capital
6. Note Payable (due in ten years)
7. Supplies
8. Wages Payable

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