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Identify the accounts as Income, Expense for Other Account Type depending on the Account Type given in the table below. If you select Other Account
Identify the accounts as Income, Expense for Other Account Type depending on the Account Type given in the table below.
If you select Other Account Type then select either COGS, Other Income or Other Expense [the selection of Income .vs. Other Income or Expense .vs. Other Expense is important because Income and Expense accounts will appear in the operating section of the income statement, whereas Other Income and Other Expense account types will appear in the non-operating section of the income statement.]
ccount NumberAccount Type 101 103 104 105 108 110 115 ccount Name Cash Short-termInvestments Bank Other Current Assets ccounts Receivable Inventory Prepaid Insurance Supplies Prepaid Rent ccounts Receivable Inventory Other Current Assets Other Current Assets Other Current Assets Pallet Jack Accumulated Dep. - Pallet Jack Fork Lift Accumulated Dep. - Fork Lift Packaging Machine Accumulated Dep. - Packaging Machine173 151 153 161 163 Fixed Assets Fixed Assets Fixed Assets Fixed Assets Fixed Assets Fixed AssetsStep by Step Solution
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