Cash received on account affects which accounts cash & accounts receivable looking at events and thinking about how they affect the business is known as analyzing delivery equipment is an

Investment of cash into a business

Increase Cash

20,000 in new business would

increase cash & owners equity

Users of accounting information would include

all of the above

The normal balance is a debit in a

drawing

Cash received on account affects which accounts

cash & accounts receivable

looking at events and thinking about how they affect the business is known as

analyzing

delivery equipment is an

asset

The purpose of the trial balance

make sure debits equal credits

owners equity is not affected by

purchasing an asset

the assets of a business consists of many items, such as?

cash

payment of office rent represents an increase in

expense

the amount by which assets exceed liabilities is known as

owners equity

the financial statement prepared first?

income statement

prepaid insurance is an

asset (paying something that you still have)

wages expense is a

liability

an income statement

contains only temp accounts

straight line dep. method

dividing by the useful life

what do preferred stock holders give up

the right to vote on company issues

for a corporation, instead of posting net income

retained earnings

Accounting

 

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