Caroline Palmer uses the following accounts in her San Francisco–Los Angeles commuter shuttle service.

In the form provided in your working papers, provide the following information for each account. The first account is completed as an example.

1. Classify the account as an asset, liability, owner’s equity, revenue, or expense account.

2. Indicate whether the increase side is a debit or a credit. 

3. Indicate whether the decrease side is a debit or a credit. 

4. Indicate whether the account has a normal debit balance or a normal credit balance.

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General Ledger Cash in Bank Advertising Expense Caroline Palmer, Withdrawals Airplanes Fuel and Oil Expense Repairs Expense Caroline Palmer, Capital Accounts Receivable Food Expense Flying Fees Accounts Payable