The trial balance columns of the worksheet for Jeff Lynne Company at June 30, 2020, are: Other data:
1. A physical count reveals $1,900 of inventory on hand.
2. $100 of the unearned revenue is still unearned at month-end.
In which financial statement column, and at what amount, will these accounts appear?
(a) Cost of Goods Sold
(b) Unearned Sales Revenue
(c) Sales Revenue

Question

The trial balance columns of the worksheet for Jeff Lynne Company at June 30, 2020, are:  Other data:
1. A physical count reveals $1,900 of inventory on hand.
2. $100 of the unearned revenue is still unearned at month-end.
In which financial statement column, and at what amount, will these accounts appear?
(a) Cost of Goods Sold
(b) Unearned Sales Revenue
(c) Sales Revenue

Quizplus · Accepted Answer

The Answer of The trial balance columns of the worksheet for Jeff Lynne Company at June 30, 2020, are:  Other data:
1. A physical count reveals $1,900 of inventory on hand.
2. $100 of the unearned revenue is still unearned at month-end.
In which financial statement column, and at what amount, will these accounts appear?
(a) Cost of Goods Sold
(b) Unearned Sales Revenue
(c) Sales Revenue

The Trial Balance Columns of the Worksheet for Jeff Lynne