The following accounts appeared in recent financial statements of Continental Airlines: Accounts Payable Flight Equipment Air Traffic Liability Landing Fees Aircraft Fuel Expense Passenger Revenue...

The following accounts appeared in recent financial statements of Continental Airlines:


Accounts Payable Flight Equipment
Air Traffic Liability Landing Fees
Aircraft Fuel Expense Passenger Revenue
Cargo and Mail Revenue Purchase Deposits for Flight Equipment
CommissionsSpare Parts and Supplies


Identify each account as either a balance sheet account or an income statement account. For each balance sheet account, identify it as an asset, a liability, or owner’s equity. For each income statement account, identify it as a revenue or an expense.