Chapter 4 Vocab Exit Ticket #1

Front

Left side of an account:

Back

Debit

Front

Right side entry of an account:

Back

Credit

Front

TRUE OR FALSE: The side of the T account that increases is the normal balance side.

Back

TRUE

Front

Tool for double-entry accounting analysis

Back

T account

Front

Accounting Equation

Back

Assets = Liabilities + Owner's Equity

Front

Classify: Accounts Receivable--Green Company

Back

Asset

Front

Classify the Account: Rick Rogers, Capital

Back

Owner's Equity

Front

Classify the Account: Accounts Payable--Staples

Back

Liability

Front

Classify: Office Equipment

Back

Asset

Front

Classify: Computer Equipment

Back

Asset