Homework Answers
Ans: Oak Interiors
Statement of Classification
| Account | Classification |
Account Number |
| Accounts Payable | 2-Liabilities | 21 |
| Accounts Receivable | 1-Assets | 12 |
| Cash | 1-Assets | 11 |
| Fees earned | 4-Revenues | 41 |
| Fred Biggs, Capital | 3- Owner's equity | 31 |
| Fred Biggs, Drawing | 3- Owner's equity | 32 |
| Land | 1-Assets | 13 |
| Miscellaneous Expenses | 5-Expenses | 53 |
| Supplies Expenses | 5-Expenses | 52 |
| Wages Expenses | 5-Expenses | 51 |
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