Which of the following accounts would appear in the balance sheet debit column?
A)Unearned service revenue
B)Accumulated Depreciation
C)Service Revenue
D)Prepaid Insurance

Question

Quizplus · Accepted Answer

Prepaid Insurance would appear in the balance sheet debit column because it represents an asset that has been paid for in advance. A debit entry increases the balance of an asset account in the balance sheet. The other options would appear in the credit column: Unearned service revenue and Service revenue are both revenues (a type of equity account) and would be credited when earned or received, and Accumulated Depreciation is a contra-asset account that reduces the balance of the related asset account and would also be credited.

Which of the Following Accounts Would Appear in the Balance