Question

Font Paragraph Styles Q1: Categorize the following accounts into the table below. Note that certain accounts may appear in multiple columns. Accounts Receivable Equipment Interest Income Maintenance Expense Owner's Equity, End. Balance Rent Revenue Unearned Revenue Withdrawals Accounts Payable Fuel Expense Interest Payable Merchandise Inventory Prepaid Expenses Salaries Expense Utilities Expense Advertising Expense Furniture Interest Receivable Notes Payable Prepaid Rent Salaries Payable Vehicle Building Cash Insurance Expense Interest Expense Investment by Owner Land Other Expenses Owner's Equity, Beg. Balance Profit/Loss Rent Expense Service Revenue Telephone Expense Vehicle Expenses Wages Expense Balance Sheet Liabilities Income Statement Expenses Statement of Changes in Owner's Equity Assets Owner's Equity Revenues

Answer 1

Owners' Equity Owners' equity end. balance Balance Sheet Liabilities Unearned revenue Accounts payable Interest payable Notes payable Salaries payable Assets Accounts receivable Equipment Merchandise inventory Prepaid expense Furniture Interest receivable Prepaid rent Vehicle Building Cash Land Income statement Revenues Expenses Interest income Maintenance expense Rent revenue Salaries expense Fuel expense Utilities expense Service revenue Advertising expense Insurance expense Other expenses Vehicle expenses Interest expense Rent expense Telephone expense Wages expense Statement of Changes in Owners' Equity Owners' equity end. balance Withdrawals Investment by Owner Profit/Loss Owners' equity beg. balance Explanation: Asset: All the capital expenditure like purchase of any proprty or long term asset. Also all current asset and advance payment of expense and income receivable. Liabilities: All the debts owed by the company and payables. Also revenue received in advance. Owners' Equity: Capital and retained earnings ending balance presented on the balance sheet. Revenues: All revenue income for the period. Expenses: All revenue expenditure for the period. Statement of Changes in Owners' Equity: Capital contribution and withdrawals adjusted to capital. Net income added and dividend deducted from retained earnings. Please give likes for the work. Thanks & Regards.