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In the First Space Below, Indicate Whether Each Account Is

Question 61

Essay

In the first space below, indicate whether each account is a real or nominal account using (R) Real Account and (N) Nominal Account. In the second space below, indicate by an (X) if the account should be closed.

 N  X  0. Advertising Expense
 ________  ________  1. Prepaid Insurance
 ________  ________  2. Service Fees
 ________  ________  3. Depreciation Expense
 ________  ________  4. Accumulated Depreciation
 ________  ________  5. Salaries Payable
 ________  ________  6. Prepaid Rent
 ________  ________  7. Income Summary
 ________  ________  8. Insurance Expense

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2. N ...

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