Classify each of the following accounts as either an asset (A), liability (L), or equity (EQ) account: _________Land. __________ Prepaid Insurance.

Century 21 Accounting Multicolumn Journal
11th Edition
ISBN:9781337679503
Author:Gilbertson
Publisher:Gilbertson
Chapter15: Preparing Adjusting Entries And A Trial Balance
Section15.1: Planning Adjusting Entries
Problem 4AYU
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Classify each of the following accounts as either an asset (A), liability (L), or equity (EQ) account: _________Land. __________ Prepaid Insurance.

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