Classify each of the accounts listed below as assets (A), liabilities (L), owner€™s equity (OE), revenue (R), or expenses (E). Indicate the normal debit or credit balance of each account. Indicate whether each account will appear in the Income Statement columns (IS) or the Balance Sheet columns (BS) of the work sheet. Item 0 is given as anexample.

Transcribed Image Text:

IS or BS Normal Balance Columns Account Classification Debit 0. Example: Wages Expense a. Prepaid Insurance b. Accounts Payable c. Wages Payable d. T. Bristol, Capital e. Accumulated Depreciation, Building f. T. Bristol, Drawing IS Rental Income g. h. Equipment i. Depreciation Expense, Equipment j. Supplies Expense