Which of the following accounts is NOT an asset account?
Accounts Payable, It is a liability.
Which of the following accounts is NOT an asset account -
Cash
Accounts Payable
Building
Equipment
which of the following accounts is an asset
Which of the following is false regarding a chart of accounts?a. The total number of asset accounts must equal the total number of liability accountsb. A chart of accounts is a listing of all the accounts that a company uses to record accounting informationc. Each account listing contains an account name and a numerical referenced. Charts of accounts will vary across companies
For each of the following accounts, indicate (a) whether it is an asset, liability, or shareholders' equity account:(b) the normal balance of the account: (c) whether a debit will increase or decrease the account; and (d) whether a credit will increase or decrease the account.
15 Which of the following is considered an asset? A] Sales B] Accounts Receivable C Common Stock DI Accounts Payable [6 The first financial statement that is prepared is the: [A] Statement of Cash Flows. B Statement of Retained Earnings [C] Balance Sheet. D] Income Statement. 17] A type of asset in which a customer owes the company money would be a: [A] receivable. [B] payable. [C] sale. D] dividend 81 A T-account has a $698 credit balance. This account...
S2-1 Identifying accounts Consider the following accounts and identify each account as an asset (A), liability (L). or equity (E). a. Notes Receivable f. Taxes Payable b. Common Stock g. Rent Expense c. Prepaid Insurance d. Notes Payable h. Furniture i. Dividends e. Rent Revenue j. Unearned Revenue
For each of the following accounts, indicate (a) whether it is an asset, liability, or shareholders' equity account; (b) the normal balance of the account; (c) whether a debit will increase or decrease the account; and (d) whether a credit will increase or decrease the account. (a) (c) (d) (b) Normal Balance Basic Type Debit Effect Credit Effect 1. Accounts Payable Accounts Receivable Liability 2. Asset 3. Cash Asset < 4. Common Shares Shareholders' Equity V 5. Deferred Revenue Liability...
Consider the following accounts and identify each account as an asset (A), liability (L), or equity (E). a. Notes Receivable А b. Nunez, Captial c. Prepaid Insurance d. Notes Payable e. Rent Revenue For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. Decrease to Unearned Revenue c. Decrease to Cash y d. Increase to Interest Expense e. Increase to Salaries Payable s
Identify the account below that is classified as an asset in a company's chart of accounts Multiple Choice Accounts Receivable Accounts Payable Common Stock Uneamed Revenue Service Revenue
Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. A a. Store Supplies b. Prepaid Rent C. Furniture d. Common Stock e. Loan EQ f. Unearned Revenue 9. Equipment h. Note Payable i. Office Supplies A
Which of the following accounts is an owner's equity account? Cash Accounts Payable Prepaid Insurance Ross Morris, Capital 2. The gross increases in owner's equity attributable to business activities are called a. assets b. liabilities c. revenues d. expenses 3. The debit side of an account a. depends on whether the account is an asset, liability, or owner's equity b. can be either side of the account depending on how the accountant set up the system c. is the right...