Essay Questions 154. Identify each of the following accounts as a revenue (R), expense (E), asset (A), liability (L) or equity (OE) by placing initials (R, E, A, L or OE) in the blanks. 155. The...

Essay Questions

154. Identify each of the following accounts as a revenue (R), expense (E), asset (A), liability (L) or equity (OE) by placing initials (R, E, A, L or OE) in the blanks.

155. The following accounts appear on either the Income Statement (IS) or Balance Sheet (BS). In the space provided next to each account write the letters IS or BS, that identify the statement on which the account appears.