Answer:
1. Accounts Payable will flow to the balance sheet because it is a liability account.
2. Accounts Receivable will flow to the balance sheet because it is an asset account.
3. Cash will flow in the balance sheet as it is an asset for the company.
4. Eddy Rosewood, Drawing will flow into Statement of owner's equity
5. Fees Earned will flow in the Income Statement
6. Supplies belong in the income statement as it is an expense account.
7. Unearned rent will flow in the balance sheet as it is a liability account.
8. Utility Expense will flow in the balance sheet as it is an expense account.
9. Wages Expense will flow in the income statement as it is an expense account.
10. Wages payable will flow in the balance sheet as it is a liability account.
Answer:
increase income or decrease total expenses
Explanation:
Over budget refers to a situation where the estimated costs exceed the actual resources available or the amount allocated. Over budget is when expenses are more than allocated finances.
There are insufficient funds in an over budget. To address the insufficient funds issue, more resources must be obtained, or the expenses must be reduced.
