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Ans:-
Option A i.e Accounts receivables is classified as an asset in a company's chart of accounts. As these are the debtors of the company to whom the company has sold there goods and payment is dtill due from there part to be received by the company.
In other options Accounts paybale is the liablility of the company, common stock is a part of the Equity portion and others are revenue items.
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Identify the account below that is classified as an asset in a company's chart of accounts...
identify the account below that is classified as a liability in a companys chart of account...
identify the account below that is classified as a liability
in a companys chart of account
Identify the account below that is classified as a liability in a company's chart of accounts: Multiple Choice Ο Salaries Expense Ο Cash Ο Unearned Revenue Ο Accounts Receivable Ο Supplies
For each of the following (1) identify the type of account as an asset, liability, equity,...
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.) 48 Account a. Prepaid Insurance b. Accounts Receivable c. Dividends d. License Fee Revenue e. Uneamed Revenue 1. Fees Eamed 9. Equipment h Notes...
Identify all the accounts below that are ALL classified as temporary account TICIP Jove LAILU UT...
Identify all the accounts below that are ALL classified as
temporary account
TICIP Jove LAILU UT MC Qu. 6-56 Identify the accounts below that... Identify the accounts below that are ALL classified as temporary accounts. Multiple Choice C) Wages Expense, Accumulated Depreciation, Fees Income O Accounts Receivable, Depreciation Expense, Fees Income O Owner's Drawing, Depreciation Expense, Income Summary O Owner's Drawing, Owner's Capital, Income Summary
1. For each of the following (1) identify the type of account as an asset, liability,...
1. For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, and (2) identify the normal balance of the account (debit or credit and the financial statement that the account is listed on (Income Statement or Balance Sheet) Normal balance (debit or credit) Financial statement Account title Account type Asset Cash Prepaid insurance Accounts payable Common stock Utilities expense Land Service revenue Notes receivable Advertising expense Unearned revenue Debit Balance sheet
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
A chart of accounts is a list of all ledger accounts and an identification number for...
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. Rent Revenue Rent Receivable d Machinery e Accounts Payable Furniture Common Stock Utilities Expense
A chart of accounts is a list of all ledger accounts and an identification number for...
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. Wages Payable b. Accounts Payable C. Accounts Receivable d. Advertising Expense e. Bills Payable f. Buildings g. Commissions Earned h. Common Stock i. Concessions Expense
1. Consider the following accounts and identify each account as an asset (A), liability (L), or...
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...
The following is a list of accounts commonly seen in financial statements. Identify whether each account...
The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance sheet as an asset, a liability, or an equity account, or whether it appears on the income statement as a revenue or an expense. Account Accounts Payable Liability Property, Plant, and Equipment Ass Expense Inventories Equity Long-Term Debt Revenue Cost of Goods Sold Liability Retained Earnings Research and Development Asset Exp Prepaid Expense Equity Common Stock Accounts Receivable Asset
Consider the following accounts and identify each account as an asset (A), liability (L), or equity...
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 a liability
in a companys chart of account
Identify the account below that is classified as a liability in a company's chart of accounts: Multiple Choice Ο Salaries Expense Ο Cash Ο Unearned Revenue Ο Accounts Receivable Ο Supplies
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.) 48 Account a. Prepaid Insurance b. Accounts Receivable c. Dividends d. License Fee Revenue e. Uneamed Revenue 1. Fees Eamed 9. Equipment h Notes...
Identify all the accounts below that are ALL classified as
temporary account
TICIP Jove LAILU UT MC Qu. 6-56 Identify the accounts below that... Identify the accounts below that are ALL classified as temporary accounts. Multiple Choice C) Wages Expense, Accumulated Depreciation, Fees Income O Accounts Receivable, Depreciation Expense, Fees Income O Owner's Drawing, Depreciation Expense, Income Summary O Owner's Drawing, Owner's Capital, Income Summary
1. For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, and (2) identify the normal balance of the account (debit or credit and the financial statement that the account is listed on (Income Statement or Balance Sheet) Normal balance (debit or credit) Financial statement Account title Account type Asset Cash Prepaid insurance Accounts payable Common stock Utilities expense Land Service revenue Notes receivable Advertising expense Unearned revenue Debit Balance sheet
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
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. Rent Revenue Rent Receivable d Machinery e Accounts Payable Furniture Common Stock Utilities Expense
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. Wages Payable b. Accounts Payable C. Accounts Receivable d. Advertising Expense e. Bills Payable f. Buildings g. Commissions Earned h. Common Stock i. Concessions Expense
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...
The following is a list of accounts commonly seen in financial statements. Identify whether each account appears on the balance sheet as an asset, a liability, or an equity account, or whether it appears on the income statement as a revenue or an expense. Account Accounts Payable Liability Property, Plant, and Equipment Ass Expense Inventories Equity Long-Term Debt Revenue Cost of Goods Sold Liability Retained Earnings Research and Development Asset Exp Prepaid Expense Equity Common Stock Accounts Receivable Asset
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
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