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
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
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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
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