Chapter 10-13 Accounts

Question 1

Payroll Taxes Expense

Answer 1

FS: Income Statement
Class: Operating Expense
NB: Debit

Question 2

Salaries Expense

Answer 2

FS: Income Statement
Class: Operating Expense
NB: Debit

Question 3

Uncollectible Accounts Expense

Answer 3

FS: Income Statement
Class: Operating Expense
NB: Debit

Question 4

Workers Comp Insurance Expense

Answer 4

FS: Income Statement
Class: Operating Expense
NB: Debit

Question 5

Interest Income/Expense

Answer 5

FS: Income Statement
Class: Other Income/Expense

Question 6

Income Tax Expense

Answer 6

FS: Income Statement
Class: Other Expense
NB: Debit

Question 7

Notes Receivable

Answer 7

FS: Balance Sheet
Type: Current Asset
Debit

Question 8

Allowance for Doubtful Accounts

Answer 8

Balance Sheet
Contra Current Asset
Credit

Question 9

Interest Receivable

Answer 9

Balance Sheet
Current Asset
Debit

Question 10

Building

Answer 10

Balance Sheet
Property, Plant & Equipment
Debit

Question 11

Equipment

Answer 11

Balance Sheet
Property, Plant & Equipment
Debit

Question 12

Land

Answer 12

Balance Sheet
Property, Plant & Equipment
Debit

Question 13

Salaries Payable

Answer 13

Balance Sheet
Current Liability
Credit

Question 14

Social Security Tax Payable

Answer 14

Balance Sheet
Current Liability
Credit

Question 15

Medicare Tax Payable

Answer 15

Balance Sheet
Current Liability
Credit

Question 16

Employee Income Tax Payable

Answer 16

Balance Sheet
Current Liability
Credit

Question 17

Federal Unemployment Tax Payable

Answer 17

Balance Sheet
Current Liability
Credit

Question 18

State Unemployment Tax Payable

Answer 18

Balance Sheet
Current Liability
Credit

Question 19

Workers Comp Insurance Payable

Answer 19

Balance Sheet
Current Liability
Credit

Question 20

Accrued Expenses Payable

Answer 20

Balance Sheet
Current Liability
Credit

Question 21

Unearned Income

Answer 21

Balance Sheet
Current Liability
Credit