Homework Answers
Solution :
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Explanation |
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a. |
Wages Expense |
I |
Wages expense being an expense account appears on the debit side of the Income Statement. |
|
b. |
Wages Payable |
B |
Wages Payable account is a liability and appears on the liabilities side of the balance sheet. |
|
c. |
Warehouse |
B |
Warehouse is an asset and appears on the assets side of the balance sheet. |
|
d. |
Janitorial Expense |
I |
Janitorial expense being an expense account appears on the debit side of the Income Statement. |
|
e. |
Accounts Payable |
B |
Accounts Payable account is a liability and appears on the liabilities side of the balance sheet. |
|
f. |
Accounts Receivable |
B |
Accounts receivable is an asset and appears on the assets side of the balance sheet. |
|
g. |
Advertising Expenses |
I |
Advertising expense being an expense account appears on the debit side of the Income Statement. |
|
h. |
Buildings |
B |
Buildings account is an asset and appears on the assets side of the balance sheet. |
|
i. |
Cash |
B |
Cash account is an asset and appears on the assets side of the balance sheet. |
|
j. |
Commission Revenue |
I |
Commission Revenue is an Income and appears on the credit side of the Income statement. |
|
k. |
Consulting Revenue |
I |
Consulting Revenue is an Income and appears on the credit side of the Income statement. |
|
l. |
Delivery Expense |
I |
Advertising expense being an expense account appears on the debit side of the Income Statement. |
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