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

question 65

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:

Yoga

A group of physical, mental, and spiritual practices or disciplines which originated in ancient India, aimed at controlling the mind, body, and soul.

Katsushika Hokusai

A renowned Japanese artist and printmaker of the Edo period, best known for his series of woodblock prints, "Thirty-Six Views of Mount Fuji," including "The Great Wave off Kanagawa."

Great Wave Off Kanagawa

A famous woodblock print by Japanese artist Hokusai, iconic for its dramatic depiction of a massive wave and Mount Fuji in the background.

Woodblock

A technique or the physical block used in woodblock printing, where designs are carved into wood to be inked and transferred to paper or fabric.