Kent Erickson owns a service business called Kent's Go Karts, which uses these accounts. In order to create a chart of acCounts, you must first dassify each account. For each account, select the type of account (Assets, Liabilities, Owner's Equity, Revenue, Expenses) in the appropriate classification column. Classification Balance Sheet Income Statement Account Title Assets Liabilities Owner's Equity Revenue Expenses Accounts Payable-Ad World Accounts Recelvable-ABC Tours Accounts Payable-The Repair Shop Accounts Receivable-Seagate Travel Accounts Payable-Gas for Less Miscellaneous Expense Rent Expense Prepaid Insurance Kent Erickson, Drawing Cash Sales Supplies Advertising Expense Kent Erickson, Capital ㅇ

Kent Erickson owns a service business called Kent's Go Karts, which uses these accounts. In order to create a chart of acCounts, you must first dassify each account. For each account, select the type of account (Assets, Liabilities, Owner's Equity, Revenue, Expenses) in the appropriate classification column. Classification Balance Sheet Income Statement Account Title Assets Liabilities Owner's Equity Revenue Expenses Accounts Payable-Ad World Accounts Recelvable-ABC Tours Accounts Payable-The Repair Shop Accounts Receivable-Seagate Travel Accounts Payable-Gas for Less Miscellaneous Expense Rent Expense Prepaid Insurance Kent Erickson, Drawing Cash Sales Supplies Advertising Expense Kent Erickson, Capital ㅇ

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter3: Processing Accounting Information

Section: Chapter Questions

Problem 3.1KTQ: Read each definition below and write the number of the definition in the blank beside the...

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