Question

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

Answer 1

The correct chart of accounts would be:

Assets

Cash

Supplies

Accounts Receivable

Prepaid Insurance

Equipment

Building

Liabilities

Wages Payable

Owners Equity

Capital Owners Equity

Expenses

Rent Expense

Wage Expense

Revenues

Services Fees Revenues