V2 CLASSIFICATIONS Accounts 1. Salaries Payable 2. Common Stock 3. Prepaid Rent 4. Buildings 5. Utilities Expense 6. Equipment 7. Rent Expense 8. Notes Payable 9. Salaries Expense 10. Insurance Expense 11. Cash 12. Service Revenue Normal Balance Type of Account (Debit or Credit) liability Credit Stockhollen, Credit Expenses Cratit Asseto - Deert Expense Credit Expense Debit Espenal Credit liabilities Credel Expenses Gedit Expense - Credit Asalto Debite hevenuely Delpt MATCHING "atch each term with its definition. Full set of procedures used to accomplish the measurement/communication process of ncial accounting, Where to put the money. list of all account names used to record transactions of a company. vents that affect the financial position of the company but do not include an exchange with a ate economic entity. tivities of the company conducted with separate economic entities. ummary of the effects of all transactions related to a particular item over a period of time. _. Chart of accounts