EX 2-1 Chart of accounts
The following accounts appeared in recent financial statements of Continental Airlines:
|
Accounts Payable |
Flight Equipment |
|
Air Traffi c Liability |
Landing Fees (Expense) |
|
Aircraft Fuel Expense |
Passenger Revenue |
|
Cargo and Mail Revenue |
Purchase Deposits for Flight Equipment |
|
Commissions (Expense) |
Spare 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.