Overview, Assignment & Discussion

Discussion

Question 1

Place a check mark in the appropriate box below to indicate the name of the account group in which each account belongs.

INCOME STATEMENT

BALANCE SHEET

Account Payable

Account Receivable

Building

Capital

Drawing

Equipment

Fees Income

General Expenses

Interest Expenses

Land

Notes Payable

Other Income

Rent Expenses

Rent Income

Salaries Expenses

Supplies

Supplies Expenses

Tax expenses

Question 2

Classify the following accounts by placing a check mark in the appropriate column.

Current Assets

Non- current Assets

Current Liability

Non-current Liability

Accounts Receivable

Accounts Payable

Notes Payable

Mortgage Payable

Cash

Supplies

Salaries Payable

Bonds Payable

Equipment

Land

Version: 1.0Page 2 of 2Date:9/7/2015 12:13:00 PM