compare the list of accounts below and choose the list that contains only accounts that would be classified…

compare the list of accounts below and choose the list that contains only accounts that would be classified as asset accounts on the chart of accounts. supplies expense; accounts payable; service fees earned. building; prepaid insurance; supplies expense. accounts receivable; prepaid insurance; equipment. cash; accounts payable; supplies. supplies; cash; dividends.

compare the list of accounts below and choose the list that contains only accounts that would be classified as asset accounts on the chart of accounts. supplies expense; accounts payable; service fees earned. building; prepaid insurance; supplies expense. accounts receivable; prepaid insurance; equipment. cash; accounts payable; supplies. supplies; cash; dividends.

Answer

Brief Explanations:

Asset accounts represent resources owned by a business that have future economic value. Accounts Receivable is money owed to the company, Prepaid Insurance is a prepaid expense (an asset as it represents future coverage), and Equipment is a long - term asset. Supplies Expense is an expense account, Accounts Payable is a liability, Service Fees Earned is a revenue account, and Dividends are a distribution of earnings to shareholders and not an asset.

Answer:

Accounts Receivable; Prepaid Insurance; Equipment.