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Indicate the following for each account in the table below: A-The account classification( asset, Liability, Contra-asset, revenue, expense, or equity). B-The financial statement on which
Indicate the following for each account in the table below:
A-The account classification( asset, Liability, Contra-asset, revenue, expense, or equity).
B-The financial statement on which the account would be found ( balance sheet, income statement, statement of owner's equity).
C- The normal account balance ( debit or credit)
Account Description | A-classification | B-financial statement | C-normal balance |
Cash | |||
Accumulated Depreciation | |||
Depreciation | |||
Prepaid Insurance | |||
Sales | |||
Bad debt | |||
Supplies | |||
Owner Drawing | |||
Accounts Payable | |||
Equipment | |||
Allowance for bad debt |
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