Flow of Accounts into Financial Statements The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner’s equity, or balance sheet.1. Office Equipment

Question

Flow of Accounts into Financial Statements

The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner’s equity, or balance sheet.

1. Office Equipment 5. Fees Earned

2. Utilities Expense 6. Doug Johnson, Drawing

3. Accumulated Depreciation—Equipment 7. Rent Revenue

4. Unearned Rent 8. Supplies

Accepted Answer

1. Balance sheet 5. Income statement

2. Income statement 6. Statement of owner’s equity

3. Balance sheet 7. Income statement

4. Balance sheet 8. Balance sheet

Question 4.1: Flow of Accounts into Financial Statements The balances for ......

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