Question 3 (10 Marks)

The accounts below appear in the chart of accounts of Hepburn Car Service. Show whether the normal balance is a debit or a credit. Indicate whether the account would appear in the balance sheet (Statement of Financial Position) or in the income statement (Statement of Financial Performance), and under what classification, e.g., Income, Expenses, Asset, Liability and Equity.

1. Capital
2. Rent Payable
3. Revenue received in advanced
4. Hepburn personal drawings
5. Commission received

Note: follow the following format:

No	Item	Normal Balance	Statement
For example:	Car maintenance	Debit	Statement of Financial Performance (Expense)

[Answer here]

No	Item	Normal Balance	Statement