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18 terms

Account Classification - Chapter 10

Classify these accounts for a partnership.
STUDY
PLAY
Cash
Asset
Accounts Payable
Liability
Insurance Expense
Expense
Michelle Wu, Capital
Owners' Equity
Petty Cash
Asset
United Way Donations Payable
Liability
Payroll Taxes Expense
Expense
Karl Koehn, Drawing
Owners' Equity
Purchases
Cost of Merchandise
Accounts Receivable
Asset
Rent Expense
Expense
Sales
Revenue
Income Summary
Owners' Equity
Prepaid Insurance
Asset
Medicare Tax Payable
Liability
Merchandise Inventory
Asset
Accounts Receivable
Asset
Salary Expense
Expense