1. Identify each account as either an asset (A), liability (L), equity (E), revenue (R), or expense (E).

a.		a.
	Unearned consulting fees		Vehicles
	Prepaid insurance		Depreciation expense
	Office supplies		Interest income
	Notes receivable		Interest expense
	Insurance fee revenue		Furniture
	Unearned insurance fee revenue		Utilities payable
	Salary and benefits expense		Unearned rent revenue
	Small tools and supplies		Retained earnings
	Service fees earned		Salaries and benefits payable
	Service fees revenue		Compensation expense
	Notes payable		Interest earned
	Buildings		Meals and mileage expense
	Rent payable		Unearned service fees
	Share capital		Equipment

2. Identify whether the normal balance of each account is a debit (DR) or credit (CR).

b.		b.
	Unearned consulting fees		Vehicles
	Prepaid insurance		Depreciation expense
	Office supplies		Interest income
	Notes receivable		Interest expense
	Insurance fee revenue		Furniture
	Unearned insurance fee revenue		Utilities payable
	Salary and benefits expense		Unearned rent revenue
	Small tools and supplies		Retained earnings
	Service fees earned		Salaries and benefits payable
	Service fees revenue		Compensation expense
	Notes payable		Interest earned
	Buildings		Meals and mileage expense
	Rent payable		Unearned service fees
	Share capital		Equipment