Accounts

Question 1

Cash

Answer 1

DEBIT

balance account

Asset

BS

Question 2

Accounts recievable

Answer 2

DEBIT

balance account

Asset

BS

Question 3

Notes recievables

Answer 3

DEBIT

balance account

Question 4

Prepayed insurance

Answer 4

DEBIT

balance account

Question 5

Supplies

Question 6

Equipement

Answer 6

DEBIT

balance account

Question 7

Buildings

Answer 7

DEBIT

balance account

Question 8

Land

Answer 8

DEBIT

balance account

Question 9

Accounts payable

(or Trade payables)

Answer 9

CREDIT

balance account

Question 10

Notes payables

Answer 10

CREDIT

balance account

Question 11

Unearned revenue

Answer 11

CREDIT

balance account

Question 12

Accrued liabilities

Question 13

Owner capital

Answer 13

CREDIT

balance account

Question 14

Owner withdrawals

Answer 14

DEBIT

balance account

Question 15

Earned Revenue

Answer 15

CREDIT

balance account

Question 16

Expenses

Question 17

Consulting revenue

Answer 17

CREDIT

balance account

Question 18

Salary exspense

Answer 18

DEBIT

balance account

Question 19

Inventory

Answer 19

DEBIT

balance account

Question 20

Rent expense

Answer 20

DEBIT

balance account

Question 21

Income Tax payable

Answer 21

CREDIT

balance account

Question 22

Prepaid Rent

Answer 22

DEBIT

balane account

Question 23

Wages payable

Answer 23

CREDIT

balance account

Question 24

Advertising expense

Answer 24

DEBIT

balance account