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Instruction: Indicate on the space provided,(1)(X)on the element where the account belong (2) BS if the account is Balance Sheet account and IS if the account is income statement account; Dr (debit) or Cr (credit) to identify the normal balance of the account. OWNER'S Accounts ASSET LIABILITES BS or IS Dr or Cr EQUITY and Maintenance nse and Wages Expense ayable

Instruction: Indicate on the space provided,(1)(X)on the element where the account belong (2) BS if the account is Balance Sheet account and IS if the account is income statement account; Dr (debit) or Cr (credit) to identify the normal balance of the account. OWNER'S Accounts ASSET LIABILITES BS or IS Dr or Cr EQUITY and Maintenance nse and Wages Expense ayable

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Instruction: Indicate on the space provided, (1)(X)on the element where the account belong (2) BS if the account is Balance Sheet account and IS if the account is income statement account; Dr (debit) or Cr (credit) to identify the normal balance of the II. ассount. OWNER'S Accounts ASSET LIABILITES BS or IS Dr or Cr EQUITY 1. Repairs and Maintenance Expense 2. Salaries and Wages Expense 3. Notes Payable 4. Notes Receivable 5. Service Vehicle 6. Mortgage Payable 7. Utilities Expense 8. Furniture and Fixtures 9. Communication Expense 10. Employees' benefits payable 11. Office Equipment
Transcribed Image Text:Instruction: Indicate on the space provided, (1)(X)on the element where the account belong (2) BS if the account is Balance Sheet account and IS if the account is income statement account; Dr (debit) or Cr (credit) to identify the normal balance of the II. ассount. OWNER'S Accounts ASSET LIABILITES BS or IS Dr or Cr EQUITY 1. Repairs and Maintenance Expense 2. Salaries and Wages Expense 3. Notes Payable 4. Notes Receivable 5. Service Vehicle 6. Mortgage Payable 7. Utilities Expense 8. Furniture and Fixtures 9. Communication Expense 10. Employees' benefits payable 11. Office Equipment
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