Question

The following accounts appear in an adjusted trial balance of Bridgewater Consulting. Indicate whether each account would be reported in the Current asset; property, plant, and equipment; Current liabilities; long-term liability; or stockholders' equity section of the December 31, 20Y0, balance sheet of Bridgewater Consulting. 1. Accounts Payable 2. Accounts Receivable 3. Accumulated Depreciation—Building 4. Cash 5. Common Stock 6. Note Payable (due in ten years) 7. Supplies 8. Wages Payable

Answer 1

Answer:

Explanation:

1. Accounts Payable - Current liabilities in liabilities side

2. Accounts Receivable - Current asset in assets side

3. Accumulated Depreciation—Building - Property, plant, and equipment in assets side

4. Cash - Current asset in assets side

5. Common Stock -  stockholders' equity

6. Note Payable (due in ten years) - Long-term liability in liabilities side

7. Supplies - Current asset in asset side

8. Wages Payable - Current liabilities in liabilities side

Answer 2

Answer:

The accounts will all appear in the balance sheet

Explanation:  

They will be reported as follows

Current Assets- accounts receivables and supplies

Current liabilities - accounts payable and wages payable

Long Term liability- Notes Payable (due in ten years)

Property Plant and Equipment - Accumulated depreciation - building

Stockholders Equity - common stock