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Chapter 4: Q4TI_3 (page 201)
For each account listed, identify whether the account would appear on the post-closing trial balance. Indicate either yes or no.
18. Cash
Yes
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For each account listed, identify whether the account would appear in either the income statement section or the balance sheet section of the worksheet. Assuming normal balances, identify if the account would be recorded in the debit (DR) or credit (CR) column.
13. Accumulated Depreciation—Building
A partial worksheet for Ramey Law Firm is presented below. Solve for the missing information. Total 6 5 A J K L M 33 34 35 (a) \( 211,325 \) 202,950 (e) 8,375 (d) \( 24,850 \) 24,850 Debit Credit Debit Credit Income Statement Balance Sheet Net (b) (c) Total (f).
For each account listed, identify whether the account would appear in either the income statement section or the balance sheet section of the worksheet. Assuming normal balances, identify if the account would be recorded in the debit (DR) or credit (CR)
column.
10. Cash
Ocean Breeze Associates accrued \(8,500 of Service Revenue at December 31. Ocean Breeze Associates received \)14,500 on January 15, including the accrued revenue recorded on December 31. Requirements 1. Record the adjusting entry to accrue Service Revenue. 2. Record the reversing entry. 3. Journalize the cash receipt.
What is a classified balance sheet?
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