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3 years ago

The following are several of the accounts from a recent balance sheet.

Business

1 answer:

Burka [1]3 years ago

6 0

Answer:

<u>Account Name</u> <u>Balance Sheet Classification</u> <u>DR or CR Balance </u>

1. Accounts Receivable CA Debit

2. Prepaid Expense CA Debit

3. Inventories CA Debit

4. Long-Term Debt NCL Credit

5. Cash and Cash Equivalent CA Debit

6. Accounts Payable CL Credit

7. Income Tax Payable CL Credit

8. Contributed Capital SE Credit

9. Property Plant and Equipment NCA Debit

10. Retained Earning SE Credit

11. Short-Term Borrowing CL Credit

12. Accrued Liabilities CL Credit

13. Goodwill (an Intangible Asset) NCA Debit

Explanation:

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2 years ago

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Answer:

a) True

Explanation:

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