Classifying Accounts Balances for each of the following accounts appear in an adjusted trial balance. Identify each as an asset, liability, revenue, or expense. 1.  Accounts Receivable   2.  Equipment   3.  Fees Earned   4.  Insurance Expense   5.  Prepaid Advertising   6.  Prepaid Rent   7.  Rent Revenue   8.  Salary Expense   9.  Salary Payable   10.  Supplies   11.  Supplies Expense   12.  Unearned Rent

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Classifying Accounts

Balances for each of the following accounts appear in an adjusted trial balance. Identify each as an asset, liability, revenue, or expense.

1.  Accounts Receivable  
2.  Equipment  
3.  Fees Earned  
4.  Insurance Expense  
5.  Prepaid Advertising  
6.  Prepaid Rent  
7.  Rent Revenue  
8.  Salary Expense  
9.  Salary Payable  
10.  Supplies  
11.  Supplies Expense  
12.  Unearned Rent  
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