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I. Indicate whether each account listed below ordinarily has a debit or a credit balance: A. Advertising Expense B. Accounts Payable C. Retained Earnings (profitable
I. Indicate whether each account listed below ordinarily has a debit or a credit balance: A. Advertising Expense B. Accounts Payable C. Retained Earnings (profitable company) D. Prepaid Insurance E. Accounts Receivable F. Property and Equipment G. Accumulated Depreciaton H. Accrued Salaries I. Sales J. Investments K. Notes Payable II. Match the accounts listed below with the proper financial statement classifications: A. Current Assets E. Stockholder's Equity B. Property, Plant, and Equipment F. Revenue C. Current Liabilities G. Expenses D. Long-term Liabilities Inventory Accounts Payable Note Payable in ten years Accumulated Depreciation on building Accrued Payroll Accounts Receivable Building Sales Land (Used in operations) Prepaid Expenses Rent Expense Cash Salary Expense Allowance for Doubtful Accounts Retained Earnings 1. Indicate whether the following expenditures would be an expense or capital purchase
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