Is it Asset (A), Liability (L), Owner’s, Equity (OE), Revenue (R), or an Expense (E). Flashcards
1
Q
Furniture and Fittings
A
Asset
2
Q
Accounts Payable
A
Expense
3
Q
Cash at the Bank
A
Asset
4
Q
Motor vechicle
A
Asset
5
Q
Inventories
A
Asset
6
Q
Bad Debt
A
Expense
7
Q
Bank Overdraft
A
Liability
8
Q
Creditors
A
Revenue
9
Q
Bank fees
A
Expense
10
Q
Wages
A
Expense
11
Q
Buildings
A
Asset
12
Q
Advertising
A
Expense
13
Q
Government bonds
A
Expense
14
Q
Interest recieved
A
Revenue
15
Q
Accounts Recievable
A
Revenue
16
Q
Insurance
A
Expense
17
Q
Rent recieved
A
Revenue
18
Q
Loan to P Boatly
A
Liability
19
Q
Capital
A
Owner’s Equity
20
Q
Shares in AMP
A
Asset
21
Q
Electricity
A
Expense
22
Q
Rates
A
Not sure
23
Q
Computer Equipment
A
Asset
24
Q
Interest Paid
A
Expense
25
Q
Loan from T Sanders
A
Liabilty
26
Q
P Burrows who owes us money
A
Asset ??
27
Q
Merchandise
A
Asset
28
Q
Telephone
A
Expense
29
Q
Debtors
A
asset
30
Q
Drawings
A
Owner’s Equity
31
Q
Mortage on Land
A
Liability
32
Q
Petty Cash
A
??
33
Q
S Sanderson who we owe money to
A
Liability
34
Q
Stock
A
Asset
