Answer to Question #228710 in Accounting for Another you

Question

1. Is Unearned Income an Asset, Liability, Equity, Revenue or Expense?

2. Is Service Income an Asset, Liability, Equity, Revenue or Expense?

3. Is Copyright an Asset, Liability, Equity, Revenue or Expense?

4. Is Prepaid Expense an Asset, Liability, Equity, Revenue or Expense?

5. Is Accrued Expense an Asset, Liability, Equity, Revenue or Expense?

6. Is Salaries Expense an Asset, Liability, Equity, Revenue or Expense?

7. Is Sales an Asset, Liability, Equity, Revenue or Expense?

8. Is Merchandise Inventory an Asset, Liability, Equity, Revenue or Expense?

9. Is Notes Payable an Asset, Liability, Equity, Revenue or Expense?

10. Is Owner, Withdrawal an Asset, Liability, Equity, Revenue or Expense?

Answer 1

1.A liability

2.A Revenue

3.An Asset

4.An Asset

5.An Asset

6.A liability

7.A Revenue

8.An Asset

9.A Liability

10.An Expense