Answer all of the question:
EX 2-1 Chart of accounts Obj. 1 The following accounts appeared in recent financial statements of Delta Air Lines: Real - World Accounts Payable Flight Equipment Advanced Payments for Equipment Frequent Flyer (Obligations) Air Traffic Liability Fuel Inventory Aircraft Fuel (Expense) Landing Fees (Expense) O Aircraft Maintenance (Expense) Parts and Supplies Aircraft Rent (Expense) Passenger Commissions (Expense) Cargo Revenue Passenger Revenue Cash Prepaid Expenses Contract Carrier Arrangements (Expense) Taxes Payable Identify each account as either a balance sheet account or an income statement account. For each balance sheet account, identify it as an asset, a liability, or owner's equity. For each income statement account, identify it as a revenue or an expense.O EX 2-4 Rules of debit and credit Obj. 1 , 2 The following table summarizes the rules of debit and credit. For each of the items (a) through (1). indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset (3) (C) Liability (d) Debit (e) Owner's equity: Capital Credit Credit Drawing (gl Income statement accounts: Revenue (k) Credit Expense (D) Credit DebitO EX 2-6 Normal balances of accounts Obj. 1, 2 Identify each of the following accounts of Dispatch Services Co. as asset, liability, owner's equity, revenue, or expense and state in each case whether the normal balance is a debit or a credit: a. Accounts Payable b. Accounts Receivable c. Ashley Griffin, Capital d. Ashley Griffin, Drawing e. Cash f. Fees Earned g. Office Equipment h. Rent Expense i. Supplies j. Wages ExpenseEX 2-7 Transactions Obj. 2 Concrete Consulting Co. has the following accounts in its ledger: Cash; Accounts Receivable: Supplies: Office Equipment: Accounts Payable: Jason Payne, Capital: Jason Payne, Drawing: Fees Earned; Rent Expense: Advertising Expense; Utilities Expense; Miscellaneous Expense. Journalize the following selected transactions for October 2019 in a two-column journal. Journal entry explanations may be omitted. Excel Show HOW Oct. 1. Paid rent for the month, $3,600. 3. Paid advertising expense, $1,200. 5. Paid cash for supplies, $750. 6. Purchased office equipment on account, $8,000. 10. Received cash from customers on account, $14,800. 15. Paid creditors on account, $7,110. 27. Paid cash for miscellaneous expenses, $400. 30. Paid telephone bill (utility expense) for the month, $250. 31. Fees earned and billed to customers for the month, $33,100. 31. Paid electricity bill (utility expense) for the month, $1,050. 31. Withdrew cash for personal use, $2,500.EX 2-9 Transactions and T accounts Obj. 2. 3 The following selected transactions were completed during August of the current year: Excel 1. Billed customers for fees earned, $73,900. 2. Purchased supplies on account, $1,960. Show Ma 3. Received cash from customers on account, $62,770. How 4. Paid creditors on account, $820. a. Journalize these transactions in a two-column journal, using the appropriate number to identify the transactions. Journal entry explanations may be omitted. b. Post the entries prepared in (a) to the following T accounts: Cash. Supplies, Accounts Receivable, Accounts Payable, Fees Earned. To the left of each amount posted in the accounts, place the appropriate number to identify the transactions. C. Assume that the unadjusted trial balance on August 31 shows a credit balance for Accounts Receivable. Does this credit balance mean that an error has occurred
