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 are1) Accounts Payable2) Service Fees Revenue3) Tax Expense4) Cash5) Accounts Receivable6) Smith, Drawings7) Interest Receivable8) Retained Earnings9) Depreciation Expense10) Interest Income11) Invemtory12) Bonds Payable13) Common Stock14) Prepaid Insurance15) Sales16) Cost of Goods Sold17) Supplies Expense18) Supplies on Hand19) Wages Payable20) Mortgage Payable
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 are1) Accounts Payable2) Service Fees Revenue3) Tax Expense4) Cash5) Accounts Receivable6) Smith, Drawings7) Interest Receivable8) Retained Earnings9) Depreciation Expense10) Interest Income11) Invemtory12) Bonds Payable13) Common Stock14) Prepaid Insurance15) Sales16) Cost of Goods Sold17) Supplies Expense18) Supplies on Hand19) Wages Payable20) Mortgage Payable
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter9: Auditing The Revenue Cycle.
Section: Chapter Questions
Problem 2CYBK: In the revenue cycle, the most significant accounts typically include revenue and accounts...
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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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