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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 29
Classifying accounts
Balances for each of the following accounts appear in an adjusted trial balance. Identify each as (a) asset, (b) liability, (c) revenue, or (d) expense.
1. Accounts Receivable
2. Equipment
3. Fees Earned
4. Insurance Expense
5. Prepaid Advertising
6. Prepaid Rent
7. Rent Revenue
8. Salary Expense
9. Salary Payable
10. Supplies
11. Supplies Expense
12. Unearned Rent
Balances for each of the following accounts appear in an adjusted trial balance. Identify each as (a) asset, (b) liability, (c) revenue, or (d) expense.
1. Accounts Receivable
2. Equipment
3. Fees Earned
4. Insurance Expense
5. Prepaid Advertising
6. Prepaid Rent
7. Rent Revenue
8. Salary Expense
9. Salary Payable
10. Supplies
11. Supplies Expense
12. Unearned Rent
Explanation
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Assets: Whenever an item is purchased wi...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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