Chart of accountsThe following accounts appeared in recent financial statements of DeltaAir Lines: Accounts PayableAdvanced Payments for EquipmentAircraft Fuel (Expense)Aircraft Maintenance (Expense)Aircraft Rent (Expense)Cargo RevenueCashContract Carrier Arrangements (Expense) Flight EquipmentFrequent Flyer (Obligations)Fuel InventoryLanding Fees (Expense)Parts and SuppliesPassenger Commissions(Expense)Passenger RevenuePrepaid ExpensesTaxes Payable Identify each account as either a balance sheet account or an incomestatement account. For each balance sheet account, identify it as anasset, a liability, or owner's equity. For each income statement account,identify it as a revenue or an expense.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Chart of accounts
The following accounts appeared in recent financial statements of Delta
Air Lines:

Accounts Payable
Advanced Payments for Equipment
Aircraft Fuel (Expense)
Aircraft Maintenance (Expense)
Aircraft Rent (Expense)
Cargo Revenue
Cash
Contract Carrier Arrangements (Expense)
Flight Equipment
Frequent Flyer (Obligations)
Fuel Inventory
Landing Fees (Expense)
Parts and Supplies
Passenger Commissions(Expense)
Passenger Revenue
Prepaid Expenses
Taxes Payable

Identify each account as either a balance sheet account or an income
statement account. For each balance sheet account, identify it as an
asset, a liability, or owner's equity. For each income statement account,
identify it as a revenue or an expense.

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