Question

v2.cengagenow.com Netflix CengageNOWV2 Online teaching and learning resource from Cengage Learning eBook Calculator Print item The following accounts appeared in recent financial statements of Delta Air Lines. Identify each account as either a balance sheet account or an income statement account. For each balance sheet account, identify it as an asset, a liability, or owner's equity. For each income statement account, identify it as a revenue or an expense. Item Financial Statement Type of Account Accounts Payable Advanced Payments for Equipment Air Traffic Liability Aircraft Fuel (Expense) Aircraft Maintenance (Expense) Aircraft Rent (Expense) Cargo Revenue Cash Contract Carrier Arrangements (Expense) Flight Equipment Frequent Flyer (Obligations) Fuel Inventory Landing Fees (Expense) Parts and Supplies Passenger Commissions (Expense) Passenger Revenue Next > Check My Work 3 more Check My Work uses remaining Email Instructor Save and Exit Submit Assignment for Grading

Answer 1

	Financial Statement	Types of account
Accounts payable	Balance sheet	Liabilities
advanced payments for equipment	Balance sheet	Assets
air traffic liability	Balance sheet	Liabilities
aircraft fuel (expenes)	income statement	expense
aircraft maintenance(expense)	income statement	expense
aircraft rent(expense)	income statement	expense
cargo revenue	income statement	Revenue
cash	balance sheet	assets
contract carrier arrangements (expenses)	income statement	expense
flight equipment	balance sheet	assets
frequent flyer (obligations)	balance sheet	liabilities
fuel inventory	balance sheet	assets
landing fees (expenses)	income statement	expense
parts and supplies	balance sheet	assets
passenger commission (expense)	income statement	expense
passenger revenue	income statement	revenue
prepaid expenses	balance sheet	assets
tax payable	balance sheet	liabilities