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Indicate in which section of the balance sheet each of the following accounts is classified. Use the symbols CA for current assets, NCA for noncurrent
Indicate in which section of the balance sheet each of the following accounts is classified. Use the symbols CA for current assets, NCA for noncurrent assets, CL for current liabilities, LTL for long- term liabilities, and SHE for stockholders equity. a. Prepaid Rent b. Dividends Payable c. Salaries Payable d. Accumulated Depreciation: Equipment e. Retained Earnings f. Mortgage Payable ( due in 15 years) g. Unearned Service Revenue h. Accounts Receivable t i. Land j. Office Supplies Indicate whether a debit or credit is required to close each of the following accounts. Use the sym-bols D if a debit is required, C if a credit is required, and N if the account is not closed at the end of the period. a. Salary Expense b. Unexpired Insurance c. Consulting Fees Earned d. Depreciation Expense e. Dividends f. Retained Earnings g. Interest Revenue h. Accumulated Depreciation i. Income Taxes Expense j. Unearned Revenue k. Income Summary ( of a profitable company) l. Income Summary ( of an unprofitable company)
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