Identify each account listed as an Asset, a Contra-Asset, a
Liability, an Equity, a Revenue, or...
Identify each account listed as an Asset, a Contra-Asset, a
Liability, an Equity, a Revenue, or an Expense.
Accounts Payable
Accounts Receivable
Accumulated Depreciation, Equipment
Allowance for Doubtful Accounts
Cash and Cash Equivalents
Common Stock, no-par
Cost of Goods Sold
Depreciation Expense
Dividends
Equipment
Income Tax Expense
Insurance Expense
Inventories
Land
Notes Payable
Other Operating Expense
Prepaid Insurance
Retained Earnings
Salary Expense
Salary Payable
Sales Revenue
Unearned Revenue
Which accounts are reported on a balance sheet?
Cash
Accounts Receivable
J. Z. Capital
Fees Earned...
Which accounts are reported on a balance sheet?
Cash
Accounts Receivable
J. Z. Capital
Fees Earned
All the following are temporary accounts except
Rent Expense
Cash
Income Summary
Fees Earned
Diaz, Drawing
Interest Revenue
You have a loan from TD Bank. Interest is $20 per month on the
loan. For you, this is an example of an accrued revenue.
True
False
An adjusting entry shows a debit to Insurance Expense. The
credit would be to Cash.
True
False
Recording supplies...
Please show what type of account each belongs to ( for example
Current Asset, Current Liability,...
Please show what type of account each belongs to ( for example
Current Asset, Current Liability, Stockholders Equity, etc.) and if
each is a credit or debit.
Accounts Payable
Accounts Receivable
Accumulated Depreciation - Equipment
Cash
Common Stock
Depreciation Expense - Equipment
Dividends
Equipment
Interest Expense
Interest Revenue
Notes Payable
Prepaid Rent
Retained Earnings
Service Revenue
Unearned Revenue
Wages Expense
Wages Payable
Prepare an income Statement
Accounts Payable- 88,851
Accounts receivable- 442,120
Accumulated depreciation: building- 1,265
Accumulated depreciation:...
Prepare an income Statement
Accounts Payable- 88,851
Accounts receivable- 442,120
Accumulated depreciation: building- 1,265
Accumulated depreciation: equipment- 9,900
Advertising Expense- 9,240
Allowance for doubtful accounts- 75,000
Allowance to Reduce Inventory to NRV- 16,000
Bad Debt Expense- 75,000
Bonds Payable- 700,000
Building- 37,500
Cash- 834,544
Common stock- 135,000
Depreciation Expense- 11,165
Dividends- 28,000
Equipment- 21,600
Impairment Loss Expense- 5,000
Income Taxes Expense- 99,000
Income taxes payable- 99,000
Insurance Expense- 22,500
Interest Expense- 31,171
Interest Payable- 35,000
Inventory- 70,000
Land- 88,000
Notes...
. Choose the answer that best describes the proper
adjusting entry:
1. Depreciation on Building is...
. Choose the answer that best describes the proper
adjusting entry:
1. Depreciation on Building is estimated to be
$5,000
a. debit to accumulated depreciation
for $5,000
b. credit to accumulated depreciation
for $5,000
c. credit to depreciation expense
$5,000
d. credit to buildings for $
5,000
2. A one year insurance policy was purchased for
$2,000.
Three months has
expired.
a. debit to prepaid insurance for
$500
b. credit to...
For each item described: Identify the type of account (Asset,
Liability, Equity, Revenue or Gain, Expense...
For each item described: Identify the type of account (Asset,
Liability, Equity, Revenue or Gain, Expense or Loss), normal
balance (Debit, Credit), financial statement (Balance Sheet, Income
Statement), and whether the account is closed at the end of the
period (Yes, No) by selecting the letter that best describes those
attributes. If an account is a contra account, the answer will show
the account type in parentheses. Answer items may be
used once, more than once, or not at all.
...
Which of these is correct as it relates to classification,
type, normal balance, financial statement, permanent...
Which of these is correct as it relates to classification,
type, normal balance, financial statement, permanent or temporary,
closed or not closed, adjusted or not adjusted, type of adjusting
entry, account classification combination, and on a post-closing
trial balance (PCTB) or not for the account Accumulated
Depreciation?
Group of answer choices
D. Asset, Contra Long-term Asset, Credit, Balance Sheet,
Permanent, Not Closed, Adjusted, Prepaid Asset, Expense&Asset,
and on PCTB
None of these
Asset, Contra Asset, Debit, Balance Sheet, Permanent, Not...
Classify each of the accounts from Stance Company as Asset (A),
Liability (L), Stockholders Equity (SE),...
Classify each of the accounts from Stance Company as Asset (A),
Liability (L), Stockholders Equity (SE), Revenue (R), Expense (E),
or Dividend (D) and also indicate the typical balance in the
account as Debit (D) or Credit (C)
Prepaid Rent
Depreciation
Investment
Accrued Expense
Sales
Common Stock
Note Payable
Accumulated Depreciation
Cost of Goods Sold
Unearned Revenue
Accounts Receivable
Dividends
Utilities
Paid in Capital
Retained Earnings
INSTRUCTIONS - For each of the following twenty (20) accounts of
Absorka Company, indicate which financial...
INSTRUCTIONS - For each of the following twenty (20) accounts of
Absorka Company, indicate which financial statement the item
belongs on, the classification or sub-classification (for assets
& liabilities) of the account and the account’s normal balance.
The first row is an example.
Financial Statements: Balance Sheet
(BS), Income Statement (IS),
Retained Earnings Statement (RE)
Account Classification (if an account is a contra
account, be sure to state "contra" in front of the account
classification, i.e. contra long-term liability):
Current...