Match the statements or terms in Column B to the statements or terms in Column A. Write down the answers only, for example 1. (a). 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Column A monies and two vehicles were (a) introduced into the business the purchase of new equipment monthly rent paid a loan from a financial institution meat on hand amounts owing by customers sales creditors balances as at year end electricity and water in arrears cash taken by the owner for personal use (b) (c) (d) (e) (f) (g) (h) (i) (j) Column B an expense an inventory item a current asset an income item an asset a debit to the drawings account an item under trade and other payables in the balance sheet a capital item short term liability a liability in the balance sheet

Match the statements or terms in Column B to the statements or terms in Column A. Write down the answers only, for example 1. (a). 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Column A monies and two vehicles were (a) introduced into the business the purchase of new equipment monthly rent paid a loan from a financial institution meat on hand amounts owing by customers sales creditors balances as at year end electricity and water in arrears cash taken by the owner for personal use (b) (c) (d) (e) (f) (g) (h) (i) (j) Column B an expense an inventory item a current asset an income item an asset a debit to the drawings account an item under trade and other payables in the balance sheet a capital item short term liability a liability in the balance sheet

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Description: Match the statements or terms in Column B to the statements or termsin Column A. Write down the answers only, for example 1. (a).1.2.3.4.5.6.7.8.9.10.Column Amonies and two vehicles wereintroduced into the businessthe purchase of new equipmentmonthl

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

Chapter3: Processing Accounting Information

Section: Chapter Questions

Problem 3.5E: Balance Sheet Accounts and Their Use Choose from the following list of account titles the one that...

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