Requirement 1. Identify each account as an asset (A), liability (L), or equity (E). Asset (A), Liability (L), or Equity (E)? a. Interest Revenue b. Accounts Payable C. Calhoun, Capital d. Office Supplies e. Advertising Expense f. Unearned Revenue g. Prepaid Rent h. Utilities Expense i. Calhoun, Withdrawals j. Service Revenue Requirement 2. Identify whether the account is increased with a debit (DR) or credit (CR). Increases with a debit (DR) or credit (CR)? a. Interest Revenue b. Accounts Payable c. Calhoun, Capital d. Office Supplies e. Advertising Expense f. Unearned Revenue g. Prepaid Rent h. Utilities Expense i. Calhoun, Withdrawals j. Service Revenue

Sales Returns and Allowances account is report it like a. contra-revenue account on the income statement. b. current liability on the balance sheet. c. deduction from accounts receivable on the balance sheet. d. selling expense on the income statement.

Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. а. Cash b. Prepaid Rent c. Office Supplies d. Prepaid Insurance e. Office Equipment f. Owner, Capital g. Accounts Payable h. Unearned Rent Revenue i. Owner, Withdrawals

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