The Following Accounts Appear in an Adjusted Trial Balance of Blaine

question 208

Essay

The following accounts appear in an adjusted trial balance of Blaine Auto Service Company. Indicate whether each account would be reported in the (a) current assets, (b) property, plant, and equipment, (c) current liabilities, (d) long-term liabilities, or (e) stockholders' equity section of the December 31 balance sheet of Blaine Auto Service Company.
1.Retained Earnings
2.Accumulated Depreciation
3.Unearned Revenues
4.Mortgage Payable
5.Equipment
6.Notes Payable (due in two years)
7.Cash
8.Accounts Receivable

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Definitions:

Labor Force

The total number of people both employed and actively seeking employment within an economy.

Opportunity Cost

The cost of missing out on the best available alternative due to a decision.

Married Women

Women who are legally united in marriage to a spouse, with the conjugal status impacting various legal, social, and economic considerations.

Demanders

Individuals or entities that show a willingness and ability to purchase goods or services.