The accounting records of Chiang Consulting Services contain the following accounts Supplies Expense Accounts Payable Accounts Receivable Rent Expense J Chiang, Capital Cash Salary Expense J Chiang, Withdrawals Computer Equipment Supplies Consulting Service Revenue Notes Payable Required 1 Indicate...

1 Type of Account 2 Statement Supplies Expense E I Accou ...

The accounting records of Chiang Consulting Services contain the following accounts: Supplies Expense Accounts Payable Accounts Receivable

Question:

The accounting records of Chiang Consulting Services contain the following accounts:
Supplies Expense Receivable Rent Expense
J. Chiang, Capital Cash
Salary Expense J. Chiang, Withdrawals
Computer Equipment Supplies
Consulting Service Revenue Notes Payable
Required
1. Indicate whether each account listed is a(n) asset (A), liability (L), owner's equity (OE), revenue (R), or expense (E) account.
2. Indicate whether each account listed appears on the (B), income statement (I), statement of owner's equity (SOE), or cash flow statement (CF). Some accounts can appear on more than one statement.
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...