Accumulated Depreciation,Accounts Receivable,and Service Fees Earned Would Be Sorted to Which

question 81

Multiple Choice

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

• A)Balance Sheet and Statement of Owner's Equity-Credit; Balance Sheet and Statement of Owner's Equity Debit; and Income Statement-Credit.
• B)Balance Sheet and Statement of Owner's Equity-Debit; Balance Sheet and Statement of Owner's Equity-Credit; and Income Statement-Credit.
• C)Income Statement-Debit; Balance Sheet and Statement of Owner's Equity-Debit; and Income Statement-Credit.
• D)Income Statement-Debit; Income Statement-Debit; and Balance Sheet and Statement of Owner's Equity-Credit.
• E)Balance Sheet and Statement of Owner's Equity-Credit; Income Statement-Debit; and Income Statement-Credit.

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Definitions:

Cash Receipts Journal

A specialized accounting journal used to record all receipts of cash.

Equality

In financial terms, refers to the state where two values, amounts, or figures are of the same value or balance each other out.

One-Column Purchases Journal

A simplified accounting ledger that records only the purchases of goods and services in a single column, typically for small businesses or specific types of transactions.

General Ledger

The primary accounting record of a company that contains all the account balances needed to prepare financial statements.