Asset, Liability, Equity, Expense, Revenue, or Contra" Flashcards

1
Q

Cash

A

Asset

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2
Q

Notes Receivable

A

Asset

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3
Q

Common Stock

A

Equity

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4
Q

Prepaid Insurance

A

Asset

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5
Q

Notes Payable

A

Liability

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6
Q

Rent Revenue

A

Equity

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7
Q

Taxes Payable

A

Liability

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8
Q

Rent Expense

A

Equity

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9
Q

Furniture

A

Asset

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10
Q

Dividends

A

Equity

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11
Q

Unearned Revenue

A

Liability

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12
Q

Accounts Receivable

A

Asset

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13
Q

Accounts Payable

A

Liability

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14
Q

Interest Revenue

A

Equity

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15
Q

Supplies

A

Asset

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16
Q

Advertising Expense

A

Equity

17
Q

Prepaid Rent

A

Asset

18
Q

Utilities Expense

A

Equity

19
Q

Service Revenue

A

Equity

20
Q

Retained Earnings

A

Equity

21
Q

Merchandise Inventory

A

Asset

22
Q

Cost of Goods Sold

A

Expense

23
Q

Sales Discount

A

Contra-Revenue

24
Q

Sales Returns

A

Contra-Revenue

25
Q

Purchase Discount

A

Contra-Expense

26
Q

Freight In

A

Expense

27
Q

Purchase Returns and Allowance

A

Contra-Expense

28
Q

Delivery Expense

A

Expense