3. Next to each account, write or type the account type (asset, liability, equity, income, or...
3. Next to each account, write or type the account type (asset, liability, equity, income, or expense).
• Bank Service Charges
• Construction Income
• Company Checking Account
• Loans Payable
• Machinery & Equipment
• Common Stock
Homework Answers
Solution
| Type of Account | |
| Bank Service Charges | Expense |
| Construction Income | Income |
| Company Checking Account | Asset |
| Loans Payable | Liability |
| Machinery & Equipment | Asset |
| Common Stock | Equity |
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