The following ledger accounts are used by Rachel Zane Repair Shop: m. Zane, Withdrawals n. Salaries Payable o. Uneamed Revenues p. Office Equipment q. Rent Payable r. Notes Receivable s. Interest Expense t. Notes Payable u. Supplies v. Interest Receivable w. Rent Expense a. Cash b. Salaries Expense c. Accounts Receivable d. Zane, Capital e. Service Revenues f. Prepaid Rent g. Accounts Payable h. Land i. Supplies Expense j. Prepaid Insurance k. Utilities Expense 1. Service Revenues Requirement: Indicate each account's classification and normal balance by placing (/) marks. Type of Account Normal Balance Owner's Equity Asset Liability Zane, Capital Zane, Withdrawak Revenues Expenses Debit Credit b. d. le. h. m. n. o. p. L u. v.
The following ledger accounts are used by Rachel Zane Repair Shop: m. Zane, Withdrawals n. Salaries Payable o. Uneamed Revenues p. Office Equipment q. Rent Payable r. Notes Receivable s. Interest Expense t. Notes Payable u. Supplies v. Interest Receivable w. Rent Expense a. Cash b. Salaries Expense c. Accounts Receivable d. Zane, Capital e. Service Revenues f. Prepaid Rent g. Accounts Payable h. Land i. Supplies Expense j. Prepaid Insurance k. Utilities Expense 1. Service Revenues Requirement: Indicate each account's classification and normal balance by placing (/) marks. Type of Account Normal Balance Owner's Equity Asset Liability Zane, Capital Zane, Withdrawak Revenues Expenses Debit Credit b. d. le. h. m. n. o. p. L u. v.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The following ledger accounts are used by Rachel Zane Repair Shop:
m. Zane, Withdrawals
n. Salaries Payable
o. Unearned Revenues
p. Office Equipment
q. Rent Payable
r. Notes Receivable
s. Interest Expense
t. Notes Payable
u. Supplies
v. Interest Receivable
w. Rent Expense
a. Cash
b. Salaries Expense
c. Accounts Receivable
d. Zane, Capital
e. Service Revenues
f. Prepaid Rent
g. Accounts Payable
h. Land
i. Supplies Expense
j. Prepaid Insurance
k. Utilities Expense
1. Service Revenues
Requirement: Indicate each account's classification and normal balance by placing (/) marks.
Type of Account
Normal Balance
Owner's Equity
Asset
Liability
Zane, Capital Zane, Withdrawal
Revenues
Expenses
Debit
Credit
a.
lb.
lc.
d.
le.
f.
g.
h.
i.
i.
k.
m.
In.
o.
r.
ISs.
t.
u.
V.
w.
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