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

question 74

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).
- $\begin{array} { | l | l | l | l | } \hline & \text { Column } 1 & \text { Column } 2 & \text { Column } 3 \\\hline \text { Prepaid subscription } & & & \\\hline\end{array}$

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Definitions:

Contact Metamorphism

The process by which rocks are transformed in composition and texture due to high heat but moderately low pressure, typically near a heat source like magma.

Tight Folds

Rock layers that have been bent very closely together, typically as a result of high pressure, forming narrow and sharp folds.

Cleavage

A property of minerals that allows them to break along smooth, flat surfaces, determined by the mineral's crystal structure.

Columnar Joints

Natural formations resulting from the cooling and cracking of volcanic rock into nearly hexagonal columns.