Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. a.

Question:

Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account.
a. Cash
b. Prepaid Rent
c. Office Supplies
d. Prepaid Insurance
e. Office Equipment
f. Owner, Capital
g. Unearned Rent Revenue
i. Owner, Withdrawals
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...