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QS 2-2 Identifying financial statement accounts LO C2 Classify each of the following accounts as an...
Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account....
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
Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account....
Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. a. Dividends EQ PA EQ b. Trucks c. Common Stock d. Buildings e. Unearned Store Sales f. Warehouse g. Rent Payable h. Factory i. Utilities Payable L Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Dividends b. Trucks c. Common Stock Credit Debit d. Buildings e. Delivery Expense f. Warehouse g. Rent Payable h. Factory...
Exercise 2-2 Identifying and classifying accounts LO C2 Select the item that best completes each of...
Exercise 2-2 Identifying and classifying accounts LO C2 Select the item that best completes each of the descriptions below. a. Accounts Receivable, Prepaid Accounts, Supplies, and Land are examples of accounts are held by a seller and are promises of payment from customers to sellers c. Balance sheet accounts are arranged into general categories d. Ain) is a record of increases and decreases in a specific asset, liability, equity, revenue, or expense item are people and organizations that are entitled...
Saved QS 7-3 Identifying general and subsidiary ledgers LO C2 For each account, indicate whether it...
Saved QS 7-3 Identifying general and subsidiary ledgers LO C2 For each account, indicate whether it appears in the general ledger or the subsidiary ledger. a. Office supplies b. Accounts Payable James c. Prepaid advertising d. Prepaid insurance e Accounts Payable Julie + Prepaid Rent < Prev 15 of 22 Next > 1 2 3 4 ore 6 7
QS 2-9 Classifying accounts in financial statements LO P3 Indicate the financial statement on which each...
QS 2-9 Classifying accounts in financial statements LO P3 Indicate the financial statement on which each of the following items appears. Use / for income statement, E for statement of retained earnings, and for balance sheet. a. Postage expense b. Interest Expense c. Prepaid Insurance d. Prepaid Rent e. Legal expense t. Repairs expense 9. Factory h. Supplies i. Insurance Expense Unearned Revenue k. Unearned Subscriptions L Rental Revenue
QS 2-3 Reading a chart of accounts LO C3 A chart of accounts is a list...
QS 2-3 Reading a chart of accounts LO C3 A chart of accounts is a list of all ledger accounts and an identification number for each. Identify the following accounts as either an asset (A), liability (L), equity (EQ), revenue (R), or expense (E) account. a. Advertising Expense b. Bills Payable c. Buildings d. Commissions Earned ces e. Common Stock 1. Concessions Expense 9. Delivery Expense h. Equipment LFood Drink Expense
Problem 1 Classify each of the following accounts as an asset (A), liability (L), or equity...
Problem 1 Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) accoun Accounts Payable Short-Term Investments Land Mortgage Payable Capital Common Stock Issued Prepaid Rent Expense Repair Parts Inventory Accounts Receivable Investments Building Sales Tax Payable Withdrawals Retained Earnings Food Inventory Paid-In Capital
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following...
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity. revenue, or expense: (2) identify the normal balance of the account; and (3) select debit (Dr) or credit (C) to identify the kind of entry that would increase the account balance Type of Account Asset Normal Balance Increase (Dr. or Cr.) Account a Land b. Cash c. Legal Expense d. Prepaid Insurance e...
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following...
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense (2) identify the normal balance of the account, and (3) select debit (Dr) or credit (Cr.) to identify the kind of entry that would increase the account balance. Type of Account Normal Balance Increase (Dr. or Cr.) Account a Land b. Cash c. Legal Expense d. Prepaid Insurance e. Accounts...
S2-1 Identifying accounts Consider the following accounts and identify each account as an asset (A), liability...
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
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
Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. a. Dividends EQ PA EQ b. Trucks c. Common Stock d. Buildings e. Unearned Store Sales f. Warehouse g. Rent Payable h. Factory i. Utilities Payable L Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Dividends b. Trucks c. Common Stock Credit Debit d. Buildings e. Delivery Expense f. Warehouse g. Rent Payable h. Factory...
Exercise 2-2 Identifying and classifying accounts LO C2 Select the item that best completes each of the descriptions below. a. Accounts Receivable, Prepaid Accounts, Supplies, and Land are examples of accounts are held by a seller and are promises of payment from customers to sellers c. Balance sheet accounts are arranged into general categories d. Ain) is a record of increases and decreases in a specific asset, liability, equity, revenue, or expense item are people and organizations that are entitled...
Saved QS 7-3 Identifying general and subsidiary ledgers LO C2 For each account, indicate whether it appears in the general ledger or the subsidiary ledger. a. Office supplies b. Accounts Payable James c. Prepaid advertising d. Prepaid insurance e Accounts Payable Julie + Prepaid Rent < Prev 15 of 22 Next > 1 2 3 4 ore 6 7
QS 2-9 Classifying accounts in financial statements LO P3 Indicate the financial statement on which each of the following items appears. Use / for income statement, E for statement of retained earnings, and for balance sheet. a. Postage expense b. Interest Expense c. Prepaid Insurance d. Prepaid Rent e. Legal expense t. Repairs expense 9. Factory h. Supplies i. Insurance Expense Unearned Revenue k. Unearned Subscriptions L Rental Revenue
QS 2-3 Reading a chart of accounts LO C3 A chart of accounts is a list of all ledger accounts and an identification number for each. Identify the following accounts as either an asset (A), liability (L), equity (EQ), revenue (R), or expense (E) account. a. Advertising Expense b. Bills Payable c. Buildings d. Commissions Earned ces e. Common Stock 1. Concessions Expense 9. Delivery Expense h. Equipment LFood Drink Expense
Problem 1 Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) accoun Accounts Payable Short-Term Investments Land Mortgage Payable Capital Common Stock Issued Prepaid Rent Expense Repair Parts Inventory Accounts Receivable Investments Building Sales Tax Payable Withdrawals Retained Earnings Food Inventory Paid-In Capital
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity. revenue, or expense: (2) identify the normal balance of the account; and (3) select debit (Dr) or credit (C) to identify the kind of entry that would increase the account balance Type of Account Asset Normal Balance Increase (Dr. or Cr.) Account a Land b. Cash c. Legal Expense d. Prepaid Insurance e...
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense (2) identify the normal balance of the account, and (3) select debit (Dr) or credit (Cr.) to identify the kind of entry that would increase the account balance. Type of Account Normal Balance Increase (Dr. or Cr.) Account a Land b. Cash c. Legal Expense d. Prepaid Insurance e. Accounts...
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
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