In the first space below, indicate whether each account is a real or nominal account using (R) Real Account and (N) Nominal Account. In the second space below, indicate by an (X) if the account should be closed.

N X 0. Advertising Expense

________ ________ 1. Prepaid Insurance

________ ________ 2. Service Fees

________ ________ 3. Depreciation Expense

________ ________ 4. Accumulated Depreciation

________ ________ 5. Salaries Payable

________ ________ 6. Prepaid Rent

________ ________ 7. Income Summary

________ ________ 8. Insurance Expense

Question

In the first space below, indicate whether each account is a real or nominal account using (R) Real Account and (N) Nominal Account. In the second space below, indicate by an (X) if the account should be closed.

N	X	0. Advertising Expense
________	________	1. Prepaid Insurance
________	________	2. Service Fees
________	________	3. Depreciation Expense
________	________	4. Accumulated Depreciation
________	________	5. Salaries Payable
________	________	6. Prepaid Rent
________	________	7. Income Summary
________	________	8. Insurance Expense

Quizplus · Accepted Answer

The Answer of In the first space below, indicate whether each account is a real or nominal account using (R) Real Account and (N) Nominal Account. In the second space below, indicate by an (X) if the account should be closed.

N	X	0. Advertising Expense
________	________	1. Prepaid Insurance
________	________	2. Service Fees
________	________	3. Depreciation Expense
________	________	4. Accumulated Depreciation
________	________	5. Salaries Payable
________	________	6. Prepaid Rent
________	________	7. Income Summary
________	________	8. Insurance Expense

In the First Space Below, Indicate Whether Each Account Is