PARISSH 1-4  (REAL OR NOMINAL)   1) I have had to ask this question 3 times now.  I have received contradictory answers.  If you are not 100% sure of the correct answer please say so and refer it to somone who is. 2) I just need 2 simple answers and no explanations.  Are the following accounts: Assets, Liabilities, Equity, Revenue, or Expense.  Also are they Real or Nominal accounts.   Service Fee Revenue Tax Expense Interest Receivable Smith, Drawings Depreciation Expense Interest Income Sales Prepaid Insurance Cost of Goods Sold Supplies Expense Common Stock

Survey of Accounting (Accounting I)
8th Edition
ISBN:9781305961883
Author:Carl Warren
Publisher:Carl Warren
Chapter3: Basic Accounting Systems: Accrual Basis
Section: Chapter Questions
Problem 3.21E: Adjustments for unearned and accrued fees The balance in the unearned fees account, before...
icon
Related questions
Question

PARISSH 1-4  (REAL OR NOMINAL)

 

1) I have had to ask this question 3 times now.  I have received contradictory answers.  If you are not 100% sure of the correct answer please say so and refer it to somone who is.

2) I just need 2 simple answers and no explanations.  Are the following accounts: Assets, Liabilities, Equity, Revenue, or Expense.  Also are they Real or Nominal accounts.  

  • Service Fee Revenue
  • Tax Expense
  • Interest Receivable
  • Smith, Drawings
  • Depreciation Expense
  • Interest Income
  • Sales
  • Prepaid Insurance
  • Cost of Goods Sold
  • Supplies Expense
  • Common Stock
Expert Solution
steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Double entry bookkeeping system
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Survey of Accounting (Accounting I)
Survey of Accounting (Accounting I)
Accounting
ISBN:
9781305961883
Author:
Carl Warren
Publisher:
Cengage Learning
Century 21 Accounting Multicolumn Journal
Century 21 Accounting Multicolumn Journal
Accounting
ISBN:
9781337679503
Author:
Gilbertson
Publisher:
Cengage
Principles of Accounting Volume 1
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College
Century 21 Accounting General Journal
Century 21 Accounting General Journal
Accounting
ISBN:
9781337680059
Author:
Gilbertson
Publisher:
Cengage