Which of the accounts below would appear in the Balance Sheet columns of the work sheet?
A) Service Revenue
B) Prepaid Rent
C) Supplies Expense
D) None are correct

Question

Quizplus · Accepted Answer

Prepaid Rent is an asset account, which would appear in the Balance Sheet columns of the work sheet. Service Revenue and Supplies Expense are both income statement accounts and would appear in the Income Statement columns of the work sheet. Therefore, Choice A and C are incorrect. Choice D is incorrect because at least one option is correct.

Which of the Accounts Below Would Appear in the Balance