For Each of the Following, Identify in Column 1 the Balance

question 17

Essay

For each of the following, identify in Column 1 the balance the account will have in the adjusted trial balance columns (debit or credit), in Column 2 the financial statement column(s) in which the account balance will be found (income statement or balance sheet), and in Column 3 the effect the account will have on the determination of net income (increase, decrease, or none).
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Definitions:

Financial Problems

Issues related to managing money, including debts, insufficient income, or inability to meet expenses.

Full-Time

Employment or educational status that typically requires a person's full availability during regular working or schooling hours.

Socialization

The process by which individuals learn and adopt the norms, values, behaviors, and social skills appropriate to their society or social group.

Perspective-Taking

The ability to understand and consider the world from someone else's viewpoint, an important social-cognitive skill in developing empathy.