Question

Identify a chart of accounts, using correct headings from the list of account titles below: Account Titles Chart of Accounts Accounts Payable Accounts Receivable Building Cash Equipment Insurance Expense Prepaid Insurance Rent Expense Service Fees Dunlop, Capital Dunlop, Drawing Supplies Wage Expense Wages Payable

Answer 1

Answer:

The question wants the given accounts to be grouped by what type of account they are. For instance, Accounts Payable is a liability.

Liabilities:

• Accounts Payable
• Wages payable

Assets

• Accounts Receivable
• Building
• Cash
• Equipment
• Prepaid Insurance
• Supplies

Expenses

• Insurance expense
• Rent expense
• Wage expense

Revenue

• Service fees

Owner's Equity

• Dunlop, Capital
• Dunlop, Drawing