### Chart of Accounts IdentificationA chart of accounts is a list of all ledger accounts and an identification number for each. Identify the following accounts as either an Asset, Liability, Equity, Revenue, or Expense account:a. Advertising Expense *Classification:* Expenseb. Rent Revenue *Classification:* Revenuec. Rent Receivable *Classification:* Assetd. Machinery *Classification:* Assete. Accounts Payable *Classification:* Liabilityf. Furniture *Classification:* Assetg. Notes Payable *Classification:* Liabilityh. Prepaid Insurance *Classification:* Asseti. Utilities Expense *Classification:* ExpenseThis table does not contain any graphs or diagrams, so no additional explanations related to graphical content are necessary.

A chart of accounts is a table of accounts that are used in a company's general ledger. The chart of…

A chart of accounts is a list of all ledger accounts and an identification number for each. Identify the following accounts as either an Asset, Liability, Equity, Revenue, or Expense account. a. Advertising Expense b. Rent Revenue c. Rent Receivable d. Machinery e. Accounts Payable f. Furniture g. Notes Payable h. Prepaid Insurance L. Utilities Expense

A chart of accounts is a list of all ledger accounts and an identification number for each. Identify the following accounts as either an Asset, Liability, Equity, Revenue, or Expense account. a. Advertising Expense b. Rent Revenue c. Rent Receivable d. Machinery e. Accounts Payable f. Furniture g. Notes Payable h. Prepaid Insurance L. Utilities Expense

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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