
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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I have to label the following accounts. I have to specify what type of account they are -Asset, Liability, Equity, Revenue or Expense. Then I have to classify them as Real or Nominal. Here they are
1) Accounts Payable
2) Service Fees Revenue
3) Tax Expense
4) Cash
5) Accounts Receivable
6) Smith, Drawings
7) Interest Receivable
8) Retained Earnings
9)
10) Interest Income
11) Invemtory
12) Bonds Payable
13) Common Stock
14) Prepaid Insurance
15) Sales
16) Cost of Goods Sold
17) Supplies Expense
18) Supplies on Hand
19) Wages Payable
20) Mortgage Payable
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- Please tell me if the following are an asset, liability or equity account and if they are real or nominal 1) Accounts payable 2) Service fees revenues 3) Tax expense 4) Cash 5) Interest receivable 6) Accounts receivable 7) Smith, drawings 8) Retained earnings 9) Depreciation expense 10) Interest income (also what is interest income? Example? is a DR or CR balance?)arrow_forwardPlease lable the following accounts as Assets, Liability, or Equity. Also if they are a DR or CR balance.1) Accounts Receivable2) Smith, Capital3) Wages Payable4) Cash5) Interest Receivable6) Taxes Payable7) Smith, Drawings8) Retained Earnings9) Buildings10) Land1) Accounts Payable2) Common Stock3) Bonds Payble4) Furniture and fixtures5) Inventory6) Interest Payable7) Dividends8) Additional paid-in-capital9) Patents and Copyright10) Short-Term Investmentsarrow_forwardHow to find Total Debt to Total Assets ration using an income statement, balance sheet or cash flow.arrow_forward
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