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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...
4. Classify the following accounts either as an "asset, "liability" or "equity" A. Asset L. Liability E. Equity Owner's capital Unearned revenue Buildings Medical Equipment Cash Medical Supplies Accounts Payable Owner's withdrawals Prepaid Accounts Accounts receivable Accrued Liabilities Inventory · Revenues Short-term notes payable Expenses
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
1. Consider the following accounts and identify each account as an asset (A), liability (L), or equity (E). a. Notes Receivable b. Common Stock c. Prepaid Insurance d. Notes Payable e. Rent Revenue (1) (2) (3) (4) (5) f. Taxes Payable g. Rent Expense h. Furniture (6) (7) i. Dividends 1. Unearned Revenue (9) (10) (9) (10) (1) (2) (3) (4) (5) (6) (7) (8) ОАОА OAOA OAOA OAOA OLOL OLOL OE ОЕ oooo 2. For each account, identify whether...
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
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (2) O O (Accounts Payable) O (Accounts Receivable) O (Cash) O (Common Stock) O (Rental Revenue) o (Office Furniture) O (Office Supplies) (Rent Expense) Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (5) O (4) O O (Common Stock) O (Rental Revenue) O (Accounts Payable) o (Office Furniture) O (Accounts Receivable) O Office Supplies) O (Cash) O (Rent...
Identify each of the following accounts as a revenue, expense, asset, liability, or equity by placing initials (R, Exp. A, L or Eq) in the blanks. Place your answers on the data sheet. (1) Owner, capital (2) Accounts Receivable (3) Owner, drawings Sales (5) Service Revenue (6) Rent Expense (7) Equipment (8) Prepaid Insurance (9) Accounts Payable (10) Supplies (11) Cash (12) Unearned Revenue The following accounts appear on either the Income Statement (IS) or Balance Sheet (BS). In the...
QS 2-2 Identifying financial statement accounts LO C2 Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. a. Warehouse b. Common Stock C. Land d. Supplies Loan f. Prepaid Insurance Wages Payable h. Uneamed Ticket Revenue i. Trucks
Instruction 1. Identify the type of accounts (i.e., asset, liability, or equity), and its normal balanc 'A' for asset, 'L' for liability, or 'E' for equity D' for debit, or 'C' for credit Account Cash Type Asset Liability Asset Equity Equity Equity Equity Equity Liability Equity Asset Asset Asset Asset Asset Liability Liability Equity Equity Asset Asset Normal Balance Debit Example 1. Accounts Payable 2. Accounts Receivable 3. Common Stock 4. Room Sales Revenue 5. Rent Expense 6. Rent Revenue...
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