ACCT 201 Case Fall 2017 Question 5: For each of the following accounts: (a) indicate whether the account decreases Page 5 with a debit (DR) or with a credit (CR), (b) indicate the financial statement on which the account would be reported (an account may be on more than one financial statement): Income Statement (IS), Retained Earnings Statement (RES), or Balance Sheet (BS), and (c) indicate whether or not the account would be closed (or zeroed out) at December 31, 2017 (the end of the fiscal year) Decrease with Financial Statement Closed at end of period? Yes or No Debit or Credit Reported on a. Cash b. Rent Revenue c. Common Stock d. Accumulated Depreciation e. Advertising Expense f. Bonds Payable 9. h. Unearned Fees i. Dividends J. Merchandise Inventory k. Goodwill I. Interest Expense m. Store Equipment n. Accounts Receivable o. Dividends Payable p. Accounts Payable Earnings q. Prepaid Insurance