When a worksheet is prepared, which account would not be entered into the income statement columns?...

When a worksheet is prepared, which account would not be entered into the income statement columns?

Select one:

A.

Depreciation Expense

B.

Service Revenue

C.

Unearned Revenue

D.

Insurance Expense

Expert Solution

The answer is:		Option C

Unearned revenue means the entity has accepted
the consideration for a service that will be
provided in a future date. It's a liability for the
company and the same shall be appearing at
the balance sheet, under "Current Liabilities"

ekkarill92 answered 3 years ago

Which type of account would not be reported on the income statement?

Which of the following accounts would appear in the Income Statement columns of the end-of-period spreadsheet?...

Which of the following accounts would appear in the Income Statement columns of the end-of-period spreadsheet? Select one: a. Unearned Revenue b. Cash c. Prepaid Insurance d. Net Loss

Prepare a worksheet that contains the following columns: Trial Balance, Adjustments, Adjusted Trial Balance, Income Statement...

Prepare a worksheet that contains the following columns: Trial Balance, Adjustments, Adjusted Trial Balance, Income Statement and Balance Sheet. From the following transactions as well as add't data, please complete the entire accounting cycle for Parker's Plowing (using the chart of accounts below) for 2018. Jan. 1 Parker invested $10,000 cash and $12,000 worth of snow equipment into the plowing company. Jan. 1 Paid rent for six months in advance for garage space, $6000 Jan. 6 Purchased snow supplies for...

Question 64 The completed financial statement columns of the worksheet for Bridgeport Company are as follows....

Question 64 The completed financial statement columns of the worksheet for Bridgeport Company are as follows. Bridgeport Company Worksheet For the Year Ended December 31, 2019 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 9,100 112 Accounts Receivable 11,000 130 Prepaid Insurance 2,700 157 Equipment 24,400 158 Accumulated Depreciation—Equip. 4,600 201 Accounts Payable 9,000 212 Salaries and Wages Payable 2,300 311 Common Stock 20,000 320 Retained Earnings 8,200 332 Dividends 18,600 400 Service Revenue...

1. The completed financial statement columns of the worksheet for Blossom Company are shown as follows:...

1. The completed financial statement columns of the worksheet for Blossom Company are shown as follows: Blossom Company Worksheet For the Year Ended December 31, 2020 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 9,000 112 Accounts Receivable 10,600 130 Prepaid Insurance 2,800 157 Equipment 24,100 158 Accumulated Depreciation—Equip. 4,300 201 Accounts Payable 8,900 212 Salaries and Wages Payable 2,300 301 Owner’s Capital 20,000 306 Owner’s Drawings 10,300 400 Service Revenue 60,100 622 Maintenance...

When would we call the Income Statement the Statement of Operations and when would we call...

When would we call the Income Statement the Statement of Operations and when would we call the Balance Sheet the Statement of Financial Position?

Problem 4-3A The completed financial statement columns of the worksheet for Bray Company are shown as...

Problem 4-3A The completed financial statement columns of the worksheet for Bray Company are shown as follows: BRAY COMPANY Worksheet For the Year Ended December 31, 2017 Income Statement Balance Sheet Account No. Account Titles Dr. Cr. Dr. Cr. 101 Cash 9,100 112 Accounts Receivable 10,700 130 Prepaid Insurance 2,600 157 Equipment 23,500 158 Accumulated Depreciation—Equip. 4,700 201 Accounts Payable 8,900 212 Salaries and Wages Payable 2,300 301 Owner’s Capital 19,900 306 Owner’s Drawings 11,800 400 Service Revenue 59,600 622...

Go to the Profit & Loss worksheet. Elena has entered most of the income and expense...

Go to the Profit & Loss worksheet. Elena has entered most of the income and expense data on the worksheet. She estimates revenue will be $825,000 in Year 1 and $1,400,000 in Year 5 of the shuttle service. She needs to calculate revenue for Years 2–4. Revenue should increase at a constant amount from year to year. Project the revenue for Years 2–4 (cells C7:E7) using a Linear Trend interpolation. Elena also needs to calculate expenses for payroll and rent...

4. Prepare a multiple-step income statement on the proper worksheet. Your Income Statement should be in...

4. Prepare a multiple-step income statement on the proper worksheet. Your Income Statement should be in good form (proper titles, etc., use examples from your book) and well formatted. Do your best designating between selling and administrative expenses. You should use formulas in all cells, not constant numbers. (That means, your income statement should be linked to the adjusted numbers on your worksheet.) 5. Prepare a Comprehensive Income Statement on the proper worksheet. Accounting Creations uses the Second Income Statement...

Before calculating the profit for the period, the totals of the income statement columns on the...

Before calculating the profit for the period, the totals of the income statement columns on the worksheet are: total debits $70 000 and total credits $60 000. The amount of the profit or loss is: Select one: a. $10 000 loss b. $60 000 profit c. $10 000 profit d. $70 000 profit

Question