Question: 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

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. Design Income

2. Savings

3. Accounts Receivable (A/R)

4. Rent or Lease

5. Prepaid Expenses

6. Notes Payable

7. Inventory Asset

8. Opening Balance Equity

9. Utilities

10. Undeposited Funds

11. Accounts Payable (A/P)

12. MasterCard

13. Visa

14. Loan Payable

15. Sales of Product Income

16. Legal and Professional Fees

17. Advertising

18. Meals and Entertainment

19. Retained Earnings

20. Checking

21. Landscaping Services

22. Pest Control Services

23. Cost of Goods Sold

24. Automobile: Fuel

25. Bank Charges

26. Interest Earned

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