=+EX 4-1 Extending account balances in an end-ofperiod spreadsheet

(work sheet)

objs. 1, 2 Balances for each of the following accounts appear in an adjusted trial balance. Identify each as

(a) asset,

(b) liability,

(c) revenue, or

(d) expense.

1. Accounts Payable 7. Rent Revenue 2. Equipment 8. Salary Expense 3. Fees Earned 9. Salary Payable 4. Insurance Expense 10. Supplies 5. Prepaid Advertising 11. Supplies Expense 6. Prepaid Insurance 12. Unearned Rent