Parrish Homework 1 (What type of account) Please tell me what the following accounts are. Example: Asset, Liability, Equity, Expense, Revenue etc. Also if it is REAL or NOMINAL 1) Interest Income 2) Smith, Drawings 3) RE 1/1 Balance

Parrish Homework 1 (What type of account) Please tell me what the following accounts are. Example: Asset, Liability, Equity, Expense, Revenue etc. Also if it is REAL or NOMINAL 1) Interest Income 2) Smith, Drawings 3) RE 1/1 Balance

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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Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

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Parrish Homework 1 (What type of account)

Please tell me what the following accounts are. Example: Asset, Liability, Equity, Expense, Revenue etc. Also if it is REAL or NOMINAL

1) Interest Income

2) Smith, Drawings

3) RE 1/1 Balance

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