Directions: Select accounts from the ledger of Garrison Company appear below. For each account, indicate the following: In the "Type of Account" column, indicate the nature of each account using the following abbreviations: a) A Asset; L= Liability; OE Owner's Equity; R= Revenue; E Expense b) In the "Increase Side" column, indicate the increase side of each account by inserting D (debit) or C (credit) In the "Financial Statement" column, indicate in which finanical statement you would see the account: c) Income Income Statement; Owner's Equity Statement of Owner's Equity; Balance Balance Statement Account 1 Supplies 2 Notes Receivable 3 Fees Earned Garrison, Drawing 5 Accounts Payable 6 Salaries Expense Garrison, Capital 8 Accounts Receivable 9 Equipment 10 Notes Payable

Directions: Select accounts from the ledger of Garrison Company appear below. For each account, indicate the following: In the "Type of Account" column, indicate the nature of each account using the following abbreviations: a) A Asset; L= Liability; OE Owner's Equity; R= Revenue; E Expense b) In the "Increase Side" column, indicate the increase side of each account by inserting D (debit) or C (credit) In the "Financial Statement" column, indicate in which finanical statement you would see the account: c) Income Income Statement; Owner's Equity Statement of Owner's Equity; Balance Balance Statement Account 1 Supplies 2 Notes Receivable 3 Fees Earned Garrison, Drawing 5 Accounts Payable 6 Salaries Expense Garrison, Capital 8 Accounts Receivable 9 Equipment 10 Notes Payable

College Accounting (Book Only): A Career Approach

13th Edition

ISBN:9781337280570

Author:Scott, Cathy J.

Publisher:Scott, Cathy J.

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 2E: List the classification of each of the following accounts as A (asset), L (liability), OE (owners...

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