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Answer the following questions and explain 1 . What type of account is the rental income account? 2 . What type of account is a

Answer the following questions and explain
1. What type of account is the rental income account?
2. What type of account is a cash account?
3. What type of account is the accounts receivable account?
4. What type of account is the income tax payable account?
5. What type of account is a common stock account?
6. What type of account is the retained earnings account?
7. What type of account is the utilities cost account?
8. What type of account is the depreciation account?
9. What type of account is the unearned revenue account?
10. What type of account is the accumulated depreciation account?
11.What is the purpose of a chart of accounts (COA)?
12. How are accounts usually grouped in a chart of accounts?
13. In many computerized environments, what type of identifiers are allowed for account numbers in the chart of accounts?
14. The accounts shown in the chart of accounts can be broadly classified into two categories: balance sheet accounts and __________ accounts.
15. Every transaction will affect how many accounts?

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