CLASSIFICATIONOFACCOUNTS

INSTRUCTIONS:The customary classifications for accounts listed in the chart of accounts are listed below.For each of the 10 accounts listed below,classify each account by typingthe appropriate letter class (A, B, C, D, or E) for each accountand indicate the normal balance for each account by typing"Debit"or"Credit" in the space provided below for your answer.

CLASSES

A. Assets B. Liabilities C. Owner's equity D. Revenue E. Expenses

Normal Balance

ACCOUNTS

Classification

Debit

Credit

0. Cash ................................................................................................

A

X

1. Notes Payable ...............................................................................

2. Supplies .........................................................................................

3. Unearned Fees .............................................................................

4. Land ................................................................................................

5. Prepaid Insurance ........................................................................

6. April Saran, Capital ......................................................................

7. Unearned Rent ..............................................................................

8. Rent Expense ................................................................................

9. Office Equipment .........................................................................

10. Accounts Receivable ...................................................................