PA1. LO 5.1 Identify whether each of the following accounts would be considered a permanent account (yes/no) and which financial statement it would be reported on (Balance Sheet, Income Statement, or Retained Earnings Statement). A. Accumulated Depreciation B. Buildings C. Depreciation Expense D. Equipment E. Fees Earned Revenue F. Insurance Expense G. Prepaid Insurance H. Supplies Expense I. Dividends

10.Which of the following accounts would be increased with a debit?   a. Withdrawals account. b. Legal fees earned c. Rent Payable d. Owner’s capital account

For each transaction, indicate whether each account would be classified in the balance sheet as (a) an asset, (b) a liability, or (c) stockholders’ equity; in the income statement as (d) a revenue or (e) an expense; or in the statement of stockholders’ equity as (f) a dividend. Account Classifications Accounts Related Transactions 1. _________ Rent expense Cost of rent. 2. __________ Interest revenue Interest earned on savings account. 3. __________ Dividends Cash payments to stockholders. 4. __________ Land Land used for operations. 5. ___________ Accounts payable Amounts owed to suppliers.

Which pair of accounts follows the rules of debit and credit in relation to increases and decreases in the same manner? Select one: O A. Service Revenue and Equipment O B. Common Stock and Sales Revenue OC. Utilities Expense and Notes Payable D. Dividends Payable and Rent Expense

Which of the following is a permanent account? A. dividends distributed B. allowance for doubtful accounts C. internet expense d. sales

Identify the financial statement on which each of the following accounts would appear: the income statement (IS), the owner's equity statement (OES), or the Balance Sheet (BS). Insurance Expense [ Select] [ Select ] OES Accounts Receivabl BS IS Notes Payable [ Select] >

Accounting type Question: Which of the following is a non operating expense? A. Salary of Managing Director B. Depreciation C. Advertisement expenditure D. Interest on loan

"Identify each of the following accounts of Kaiser Services Co. as asset, liability, stockholders’ equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit:A.Accounts PayableB.Accounts ReceivableC.CashD.Common StockE.DividendsF.Fees EarnedG.Office EquipmentH.Rent ExpenseI.SuppliesJ.Wages Expense

Which of the following is a connector account? Retained Earnings O Prepaid Rent O Common Stock O Bond Payable O Accumulated Depreciation

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