Innerscape Interiors is owned and operated by Gina Kissel, an interior decorator. In the ledger of Innerscape Interiors, the first digit of the account number indicates its major account classification (1—assets, 2—liabilities, 3—owner’s equity, 4—revenues, 5— expenses). The second digit of the account number indicates the specific account within each of the preceding major account classifications.
Match each account number with its most likely account in the list below. The account numbers are 11, 12, 13, 21, 31, 32, 41, 51, 52, and 53.
Accounts Payable Gina Kissel, Drawing
Accounts Receivable Land
Cash Miscellaneous Expense
Fees Earned Supplies Expense
Gina Kissel, Capital Wages Expense
Answer:
Account
Account Number
Accounts Payable 21
Accounts Receivable 12
Cash 11
Fees Earned 41
Gina Kissel, Capital 31
Gina Kissel, Drawing 32
Land 13
Miscellaneous Expense 53
Supplies Expense 52
Wages Expense 51