CHAPTER 5 SUPPLEMENTARY EXERCISE

Indicate the classification (asset, contra-asset, liability, owners equity, revenue, or expense), normal balance (debit or credit), and placement of each account shown below in the Income Statement, Statement of Owners Equity, or Balance Sheet. The first one is given as an example.

ACCOUNT	CLASSIFICATION	NORMAL BALANCE	INCOME STATEMENT	STATEMENT OF O.E.	BALANCE SHEET
CASH	ASSET	DR.			X
RENT EXPENSE
PLACEMENT FEES
OFFICE SUPPLIES
ACCOUNTS PAYABLE
ACCOUNTS RECEIVABLE
JOHN JONES, CAPITAL
DEPR. EXPENSEOFF. EQUIP.
NOTES PAYABLE
PROFESSIONAL FEES
JOHN JONES, WITHDRAWING
OFFICE EQUIPMENT
ACC. DEPR., OFF. EQUIP.
SALARY EXPENSE