PDE IM-MODULE-3-Account Xfile:///C:/Users/user/Documents/QUIJANO,%20JAN%20CLEO%20C/ACCOUNTING/IM-MODULE-3-Accounting-Fundamentals-P1-M.Chan%20(1).pdfM3 - Exercises 2For each of the following accounts, state in column A the classification of theaccount (Whether the account is an asset, liability, capital, revenue, orexpense), in Column B if debit or credit for increase in the account and incolumn C if debit or credit for decrease, and in column D, the normal balanceof the account.ColumnD.ColuinnColumnColumnCANormalClassificationIncreaseDecreasebalanceExample: Utilities ExpenseЕxpenseDebitCreditDebit1. Accounts Payable2. Accounts Receivable3. Cash4. Carlo Calma, Capital| 5. Carlo Calma, Drawing6. Commission Income7. Equipment8. Interest Receivable9. Insurance Expense10. Notes Payable11. Notes Receivable12. Prepaid Rent13. Prepaid Insurance14. Rent Expense15. Rent Revenue16. Salaries Expense17. Salaries Payable18. Service Revenue19. Supplies20. Supplies Expense9:29 AM03/12/2021

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The balance sheet includes the assets, liabilities, and stockholders' equity. Whereas, the income…

Business

Accounting

For each of the following accounts, state in column A the classification of the account (Whether the account is an asset, liability, capital, revenue, or expense), in Column B if debit or credit for increase in the account and in column C if debit or credit for decrease, and in column D, the normal balance of the account.

For each of the following accounts, state in column A the classification of the account (Whether the account is an asset, liability, capital, revenue, or expense), in Column B if debit or credit for increase in the account and in column C if debit or credit for decrease, and in column D, the normal balance of the account.

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter2: Analyzing Transactions: The Accounting Equation

Section: Chapter Questions

Problem 1SEA: SERIES A EXERCISES ACCOUNTING ELE MENT S Label each of the following accounts as an asset (A), a...

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