Chapter 1, Problem 6EA

1. 1. Indicate whether each of the following accounts is an asset (A), a liability (L), or a part of owner’s equity (OE):
   1. a. Building
   2. b. Salaries Payable
   3. c. Accounts Receivable
   4. d. Owner’s Capital
   5. e. Cash
   6. f. Accounts Payable
   7. g. Equipment
2. 2. Indicate whether each account that follows would be shown on the income statement (IS), the statement of owner’s equity (OE), or the balance sheet (BS).
   1. a. Commissions Earned
   2. b. Automobile
   3. c. Utilities Expense
   4. d. Land
   5. e. Supplies Expense
   6. f. Accounts Payable
   7. g. Withdrawals