The following accounts were taken from a company s balance sheet: Supplies ……………. Interest

The following accounts were taken from a company s balance sheet: Supplies ……………. Interest

The following accounts were taken from a company s balance sheet: Supplies ……………. Interest payable Retained earnings …………. Equipment Prepaid insurance …………. Salaries payable Required For each account, indicate whether the account is an asset, a liability, or an equity account. Also indicate the specific asset, liability, or equity classification the account would be reported under on the balance sheet. For example, cash is an asset that would be reported as a current asset.

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