Accounts with normal credit balances include: a) Assets and liabilities b) Revenues and expenses c) Liabilities and revenues d) Revenues and assets ME13 The chart of accounts lists a company's accounts in what order? a) Assets, liabilities, revenues, expenses, stockholders' equity b) Assets, revenues, expenses, liabilities, stockholders' equity c) Assets, liabilities, stockholders' equity, expenses, revenue d) Assets, liabilities, stockholders' equity, revenues, expenses

Accounts with normal credit balances include: a) Assets and liabilities b) Revenues and expenses c) Liabilities and revenues d) Revenues and assets ME13 The chart of accounts lists a company's accounts in what order? a) Assets, liabilities, revenues, expenses, stockholders' equity b) Assets, revenues, expenses, liabilities, stockholders' equity c) Assets, liabilities, stockholders' equity, expenses, revenue d) Assets, liabilities, stockholders' equity, revenues, expenses

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter1: Accounting As A Form Of Communication

Section: Chapter Questions

Problem 1.8E: Classification of Financial Statement Items Classify each of the following items according to (1)...

See similar textbooks

Similar questions

Identify the financial statement on which each of the following account categories would appear: the balance sheet (BS), the income statement (IS), or the retained earnings statement (RE). Indicate the normal balance (Dr for debit; Cr for credit) for each account category. Table 3.16
Identify the financial statement on which each of the following account categories would appear: the balance sheet (BS), the income statement (IS), or the retained earnings statement (RE). Table 3.21
Identify the financial statement on which each of the following accounts would appear: the income statement (IS), the retained earnings statement (RE), or the Balance Sheet (BS). A. Insurance Expense B. Accounts Receivable C. Office Supplies D. Sales Revenue E. Common Stock F. Notes Payable
Classification of Financial Statement Items Classify each of the following items according to (1) whether it belongs on the income statement (IS) or balance sheet (BS) and (2) whether it is a revenue (R), expense (E), asset (A), liability (L), or stockholders equity (SE) item.
According to Statement of Financial Accounting Concepts No. 8, to be relevant an earnings report is expected to have which of the following?
Financial statement items Identify each of the following items as (a) an asset, (h) a liability, (c) revenue, (d) an expense, or (e) a dividend:
Which set of accounts has the same type of normal balance? A. Cash, accounts payable B. Prepaid rent, unearned service revenue C. Dividends, common stock D. Accounts payable, retained earnings
Show the expanded accounting equation using the 10 elements of financial accounting.
ME13The chart of accounts lists a company’s accounts in what order? a) Assets, liabilities, revenues, expenses, stockholders’ equity b) Assets, revenues, expenses, liabilities, stockholders’ equity c) Assets, liabilities, stockholders’ equity, expenses, revenued) Assets, liabilities, stockholders’ equity, revenues, expenses
I have to label the following accounts. I have to specify what type of account they are -Asset, Liability, Equity, Revenue or Expense. Then I have to classify them as Real or Nominal. Here they are1) Accounts Payable2) Service Fees Revenue3) Tax Expense4) Cash5) Accounts Receivable6) Smith, Drawings7) Interest Receivable8) Retained Earnings9) Depreciation Expense10) Interest Income11) Invemtory12) Bonds Payable13) Common Stock14) Prepaid Insurance15) Sales16) Cost of Goods Sold17) Supplies Expense18) Supplies on Hand19) Wages Payable20) Mortgage Payable
For each ofthe following accounts, identify whether that item is an asset, liability, or equity account.a. Bonds payableb. Equipmentc. Accounts payabled. Salaries payablee. Common stockf. Retained earningsg. Cashh. Accounts receivablei. Sales revenuej. Inventory
17 _____________are asset accounts applicable to all amounts owing, unsettled transactions, or other monetary obligations owed to a company by its credit customers or debtors. a. Notes payables b. Liabilities c. Invoices d. Receivables Clear my choice