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The chart of accounts usually lists a company's accounts in what order? assets, liabilities, shareholders' equity,...
Which of the following accounts is an owner's equity account? Cash Accounts Payable Prepaid Insurance Ross Morris, Capital 2. The gross increases in owner's equity attributable to business activities are called a. assets b. liabilities c. revenues d. expenses 3. The debit side of an account a. depends on whether the account is an asset, liability, or owner's equity b. can be either side of the account depending on how the accountant set up the system c. is the right...
Oriole Limited reports the following statement of financial position accounts, in alphabetical order: Accounts payable $13,850 Accounts receivable 13,900 Bank loan payable 32,600 Cash 9,350 Common shares 20,000 Equipment 35,500 Income tax payable 1,200 Intangible assets 5,000 Interest payable 300 Inventory 10,000 Prepaid insurance 1,000 Retained earnings 30,200 Salaries payable 800 Supplies 2,500 Unearned revenue 1,200 Vehicles 22,900 A. Classify each account as an Asset, Liability, or Shareholders’ Equity item. Accounts payable $13,850 Accounts receivable 13,900 Bank loan payable 32,600...
Create a chart of accounts for ABC Company using the Excel below. Part 2 ABC Company Minimum Required Accounts: Chart of Accounts 5 Asset accounts 2 Liabilities accounts Account Number Account Name 2 Equity accounts ASSETS: 1 Revenue account 5 Expense accounts Tip: Remember the order of account numbering for each category LIABILITIES: EQUITY: REVENUE: EXPENSES:
create a chart of accounts for ABC company using the excel template provoded below + 23 1 x ✓ for в 1 Part 2 ABC Company Chart of Accounts Minimum Required Accounts: 5 Asset accounts 2 Liabilities accounts Account Number Account Name ASSETS: 2 Equity accounts 1 Revenue account 5 Expense accounts Tip: Remember the order of account numbering for each category LIABILITIES: 16 EQUITY: 20 REVENUE: 23 EXPENSES: Chart of Accounts
Question 22 5 pts Total assets, liabilities, and shareholders' equity are $7,000, $5,000, and $2,000 before a new machine is purchased for $500 cash. What are the new amounts of assets, liabilities, and shareholders' equity after this event? HTML Editore E BI U AA- IES S vo O V XX, 12pt T Paragraph -
38 Other liabilities .......$ Other assets .......... Expenses ............ Stockholders' equity .... 3 Revenues ......... .... $ 23 Cash 26 Accounts payable. New Navy Company Trial Balance December 31, 2018 Balance (in millions) Debit Credit Account Title Other assets 26 Expenses Stockholders' equity Revenues Cash Accounts payable Total
9) Increases in equity from a company's sales of products or services are: A) Liabilities. B) Revenues. C) Expenses. D) Assets. E) Stockholders' Equity. 10) If assets are $492,000 and liabilities are $192,000, then equity equals: A) $492,000. B) $108,000. C) $792,000. D) $192,000. E) $300,000.
what are the types of accounts that fall into : liabilities, Owners equity and assets ?
3. Rambo Company's owner's equity equals % of the company's total assets. The company's liabilities are $120,000. What is the amount of the company's owner's equity?
For each of the below accounts, identify the following: (a) the type of account (assets, liabilities, shareholders’ equity [specify common shares, dividends, revenues, or expenses)]; (b) the normal balance of the account; and (c) on which financial statement (income statement, statement of changes in equity, statement of financial position) Saputo would likely report the account. Account (a) Type of account (b) Normal Balance (c) Financial Statement Bank loans payable Buildings Cash Depreciation expense Dividends declared ...