1. Chart of Accounts

   The following accounts appeared in recent financial statements of Delta Air Lines. 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 stockholders' equity. For each income statement account, identify it as a revenue or an expense.

   Item	Financial Statement	Type of Account
   Accounts Payable
   Advanced Payments for Equipment
   Air Traffic Liability
   Aircraft Fuel (Expense)
   Aircraft Maintenance (Expense)
   Aircraft Rent (Expense)
   Cargo Revenue
   Cash
   Contract Carrier Arrangements (Expense)
   Flight Equipment
   Frequent Flyer (Obligations)
   Fuel Inventory
   Landing Fees (Expense)
   Parts and Supplies Inventories
   Passenger Commissions (Expense)
   Passenger Revenue
   Prepaid Expenses
   Taxes Payable