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Identify the items from the following list that are likely to serve as source documents. a. Sales ticket b. Income statement c. Trial balance d.

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Identify the items from the following list that are likely to serve as source documents. a. Sales ticket b. Income statement c. Trial balance d. Telephone bill e. Invoice from supplier f. Company revenue account g. Balance sheet h. Prepaid insurance i. Bank statement Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. a. Office equipment b. Dividends c. Retained earnings d. Prepaid insurance e. Office supplies f. Prepaid rent g. Cash h. Unearned rent revenue i. Accounts payable A chart of accounts is a list of all ledger accounts and an identification number for each. One example of a chart of account is near the end of the book on pages CA-1 and CA-2. Using that chart, identify the following accounts as either an asset (A), liability (L), equity (EQ). revenue (R) or expense (E) account along with its identification number. a. Advertising expense b. Rent revenue c. Rent receivable d. Patents e. Rent payable f. Furniture g. Notes payable h. Retained earnings i. Utilities expense Identify the normal balance (debit or credit) for each of the following accounts. a. office supplies b. Dividends c. Fees Earned d. Wages Expense e. Account Receivable f. Prepaid Rent g. Wages Payable h. Building i. Common Stock Indicate whether a debit or credit decreases the normal balance of each of the following accounts. a. Service Revenue b. Interest Payable c. Accounts Receivable d. Salaries Expense e. Common Stock f. Prepaid Insurance g. Buildings h. Interest Revenue i. Dividends j. Unearned Revenue k. Accounts Payable I. Land Identify whether a debit or credit yields the indicated change for each of the following accounts. a. To increase Land b. To decrease Cash c. To increase Office Expense d. To increase Fees Earned e. To decrease Unearned Revenue f. To decrease Prepaid Rent g. To increase Notes Payable h. To decrease Accounts Receivable i. To increase Common Stock j. To increase Store Equipment

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