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21) Which of the following accounts would appear in the income statement debit column?

A) Unearned Service Revenue

B) Service Revenue

C) Depreciation Expense

D) Prepaid Insurance

22) The following is the adjusted trial balance from the worksheet for Tuttle Photography.

Tuttle Photography

Worksheet

For the Year Ended December 31, 2015

AccountsDebitCredit

Cash$15,000

Accounts Receivable30,000

Prepaid Insurance7,500

Office Supplies3,200

Building160,000

Accumulated Depreciation—Building$12,000

Equipment75,000

Accumulated Depreciation—Equipment8,500

Land40,000

Accounts Payable12,000

Salaries Payable2,000

Unearned service revenue25,000

Mortgage Payable100,000

R. Tuttle, Capital21,290

R. Tuttle, Withdrawals23,000

Service Revenue289,000

Salaries Expense61,000

Depreciation Expense—Building and Equipment6,150

Office Supplies Expense14,040

Insurance Expense14,000

Utilities Expense20,900________

Total$469,790$469,790

Using the information provided in the worksheet above, prepare an income statement for Tuttle Photography.

Solution
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Accounting 7 Months Ago 3 Views
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