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Classify the following accounts as Assets/Liability/Revenue/Expenses/Capital and then specify them where they belong to Income Statement (15) or Balance Sheet (BS). Also, identify whether each
Classify the following accounts as Assets/Liability/Revenue/Expenses/Capital and then specify them where they belong to Income Statement (15) or Balance Sheet (BS). Also, identify whether each of the accounts is permeant or temporary accounts. The first one has been done for you. Accounts Classifications (A/L/R/E/C) Part of IS or BS Temporary or Permanent Accounts Cash Assets Balance Sheet Permanent Office Supplies i vi xi Rent Revenue ii vii xii Accounts Receivable iii viii xiii Unearned Revenue iv ix xiv Long-term Loan V XV
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