Indicate whether each of the following would be reported in the section of financial statements identified as (a) assets, (b) liabilities (c) owners equity, (d) revenues, or (e) expenses:

(1) Equipment

2) Owners Drawings

3) Rent Expense

4) Fee Revenue

5) Salaries Payable

6) Prepaid Rent

7) Supplies

8) Advertising Expense

9) Service Revenue

10) Notes Payable

Which of the following accounts is an owners equity account?

a. Cash

b. Accounts Payable

c. Accounts Receivable d. Owners Capital

Which of the following accounts would typically have a Debit balance?

a. Service Revenue

b. Salary & Wages Expense c. Capital Stock

d. Accounts Payable