
Chapter 2: Effects on the Accounting Equation. Flashcards
Flashcard
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Other
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12th Grade
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Practice Problem
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Hard
KHANYA SIGWELA
FREE Resource
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32 questions
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1.
FLASHCARD QUESTION
Front
(100) ASSETS
Back
Accounts that represent resources owned by Delgado Web Services, such as cash and supplies.
2.
FLASHCARD QUESTION
Front
110 Cash
Back
An asset account representing the amount of cash on hand.
3.
FLASHCARD QUESTION
Front
130 Accounts Receivable—Main Street Services
Back
An asset account for money owed by Main Street Services.
4.
FLASHCARD QUESTION
Front
160 Prepaid Insurance
Back
An asset account for insurance paid in advance.
5.
FLASHCARD QUESTION
Front
(400) REVENUE
Back
Accounts that represent income earned by Delgado Web Services.
6.
FLASHCARD QUESTION
Front
410 Sales
Back
A revenue account for income from sales.
7.
FLASHCARD QUESTION
Front
530 Communications Expense
Back
An expense account for costs related to communication services.
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