Accumulated Depreciation, Equipment, Accounts Receivable, and Service Revenue Would Be

question 39

Multiple Choice

Accumulated Depreciation, Equipment, Accounts Receivable, and Service Revenue would be sorted to which respective columns in completing a work sheet?

• A) Statement of changes in equity or Balance Sheet-Credit; Statement of changes in equity or Balance Sheet-Debit; and Income Statement-Credit.
• B) Statement of changes in equity or Balance Sheet-Debit; Statement of changes in equity or Balance Sheet-Credit; and Income Statement-Credit.
• C) Income Statement-Debit; Statement of changes in equity or Balance Sheet-Debit; and Income Statement-Credit.
• D) Income Statement-Debit; Income Statement-Debit; and Statement of changes in equity or Balance Sheet-Credit.
• E) Statement of changes in equity or Balance Sheet-Credit; Income Statement-Debit; and Income Statement-Credit.

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Definitions:

Ledger

Definition: A book or database in which financial transactions are summarized and categorized to show account balances.

Fees Billed

Represents charges issued by a company for services it has provided, awaiting payment from clients or customers.

Accounts Receivable

Financial obligations customers have towards a business for availed goods or services which are unpaid.

Customers

Individuals or entities that purchase goods or services offered by a business.