Which of the following accounts would be found on the Balance Sheet:

In order to find the annual depreciation of a fixed asset using Straight Line Depreciation, an accountant needs to have the initial cost of the fixed asset, the expected useful life, and the estimated residual value.

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Fees Earned and Sales are liability accounts.

Assets that last less than a year are called:

Fees Earned and Sales are liability accounts.

Cash, Supplies and Accounts Receivable are all asset accounts.

Assets that last less than a year are called:

When a business disposes of a fixed asset for a gain, the gain is reported as additional revenue.

When a business disposes of a fixed asset for a gain, the gain is reported as additional revenue.