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

question 83

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:

Natural Selection

A fundamental mechanism of evolution, proposed by Charles Darwin, where organisms better adapted to their environment tend to survive and reproduce more successfully.

Charles Darwin

A 19th-century naturalist known for developing the theory of evolution by natural selection, explaining species diversity.

Evolution

The process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.

Genetic Predispositions

The inherited tendencies or vulnerabilities to exhibit characteristics or conditions, including diseases, based on one's genetic makeup.