These 16 accounts are from the Adjusted Trial Balance columns of a company’s 10 column work sheet. In the blank space beside each account, write the letter of the appropriate financial statement column (A, B, C, or D) to which a normal account balance is extended.
A. Debit column for the Income Statement columns.
B. Credit column for the Income Statement columns.
C. Debit column for the Balance Sheet and Statement of Owner’s Equity columns.
D. Credit column for the Balance Sheet and Statement of Owner’s Equity columns.
1. Office Supplies
2. Accounts Payable
3. Owner, Capital
4. Wages Payable
5. Machinery
6. Interest Receivable
7. Interest Expense
8. Owner, Withdrawals
9. Service Fees Revenue
10. Insurance Expense
11. Accumulated Depreciation
12. Interest Revenue
13. Accounts Receivable
14. Rent Expense
15. Depreciation Expense
16. Cash