Question: For each account, identify Account Type and Financial Statement on which it appears. Account Types Asset Liability Equity Income Expense Financial Statements Balance Sheet Profit

For each account, identify Account Type and Financial Statement on which it appears.

Account Types

Asset
Liability
Equity
Income
Expense

Financial Statements

Balance Sheet
Profit and Loss

Accounts

1. Sales

2. Checking

3. Accounts Receivable (A/R)

4. Rent & Lease

5. Prepaid Expenses

6. Prepaid Expenses: Supplies

7. Office Supplies & Software

8. Prepaid Expenses: Insurance

9. Insurance: Liability Insurance Expense

10. Undeposited Funds

11. Accounts Payable (A/P)

12. VISA Credit Card

13. Prepaid Insurance: Rent

14. Interest Paid

15. Contractors

16. Legal & Professional Services

17. Advertising & Marketing

18. Meals & Entertainment

19. Retained Earnings

20. Owners Investment

21. Owner Distributions

22. Inventory

23. Utilities

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