FNU ACG2003 2022 October Week 3 Homework Latest

ACG2003 Principles of Accounting

Week 3 Homework

Question 1 The balances for the accounts listed below appear in the Adjusted Trial Balance columns of the end-of-period spreadsheet. Indicate whether each account would flow into the income statement, statement of owner’s equity, or balance sheet.

Accounts Payable

Accounts Receivable

Cash

Dora Kovar, Drawing

Fees Earned

Supplies

Unearned Rent

Utilities Expense

Wages Expense

Wages Payable

Question 2Balances for each of the following accounts appear in an adjusted trial balance. Identify each as asset, liability, revenue, or expense.

Accounts Receivable

Equipment

Fees Earned

Insurance Expense

Prepaid Advertising

Prepaid Rent

Rent Revenue

Salary Expense

Salary Payable

Supplies

Supplies Expense

Unearned Rent