PROBLEM #1:
Directions: For the accounts listed below, you will fill in the answer for the two columns by choosing the correct number (in Q1) or letter (in Q2).
For the sake of learning, it would probably be good to write it out as a study guide for yourself.
	The first asks which statement is this account found on. Choose a number to fill in the blank below. (Q1)	The second asks which type of account is it? Choose a letter to fill in the blank below. (Q2)
	1) Income Statement	A) Current Asset
	2) Statement of Retained Earnings	B) Fixed Asset
	3) Balance Sheet	C) Current Liability
		D) Long term Liability
		E) Equity
		F) Revenue
		G) Expense
Account Name	Q1. Which Statement will this account be found?	Q2. What type of account is it?
Accounts payable
Accounts receivable
Accruals
Accumulated depreciation
Administrative expense
Buildings
Cash
Common stock (at par)
Cost of goods sold
Depreciation
Equipment
General expense
Interest expense
Inventories
Land
Long-term debt
Machinery
Marketable securities
Notes payable
Operating expense
Paid-in capital in excess of par
Preferred stock
Preferred stock dividends
Retained earnings
Sales revenue
Selling expense
Taxes
Vehicles