Question
Question 2 Listed below is a list of accounts: Assets (A), Liabilities (L), Revenue (R), Expenses (E) or Owners Equity (OE) Income Statement (IS) or
Question 2
Listed below is a list of accounts:
|
| Assets (A), Liabilities (L), Revenue (R), Expenses (E) or Owners Equity (OE) | Income Statement (IS) or Balance Sheet (BS) | Normal balance Debit (D) or Credit (C) |
| Accounts |
|
|
|
| Example : Accounts payable | L | BS | C |
a. | Accounts receivable | ________ | ________ | ________ |
b. | Accumulated depreciation | ________ | ________ | ________ |
c. | Advertising expense | ________ | ________ | ________ |
d. | Cash | ________ | ________ | ________ |
e. | Unearned revenues | ________ | ________ | ________ |
f. | Depreciation expense | ________ | ________ | ________ |
g. | Owner, Withdrawals | ________ | ________ | ________ |
h. | Equipment | ________ | ________ | ________ |
i. | Owner, Capital | ________ | ________ | ________ |
j. | Salaries payable | ________ | ________ | ________ |
k. | Revenue | ________ | ________ | ________ |
You are required to:
Classify each account into the correct chart of accounts. Indicate whether it is included in the Income Statement or Balance sheet and the normal balance when it is closed.
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