Accounting Ch 1 Accounting Equation

1–2. Received cash from owner Nicole McGraw as an investment. (p. 14)

• Cash
• Nicole McGraw, Capital
• Supplies
• Prepaid Insurance
• Accounts Pay. - Hyde Park Office Supplies

3–4. Paid cash for supplies. (p. 15)

• Cash
• Supplies
• Prepaid Insurance
• Accounts Pay. - Hyde Park Office Supplies
• Nicole McGraw, Capital

5–6. Paid cash for insurance. (p. 15)

• Cash
• Supplies
• Prepaid Insurance
• Accounts Pay. - Hyde Park Office Supplies
• Nicole McGraw, Capital

Identify the "Cash" Account part of the Equation

• Assets
• Liabilites
• Owners Equity
• Revenue
• Expense

Identify the "Capital" Account part of the Equation

• Assets
• Liabilites
• Owners Equity
• Revenue
• Expense

Identify the "Prepaid Insurance" Account part of the Accounting Equation

• Assets
• Liabilites
• Owners Equity
• Revenue
• Expense

Identify the "Drawing " Account part of the Accounting Equation

• Assets
• Liabilites
• Owners Equity
• Revenue
• Expense

Identify the " Utility Expense" Account part of the Accounting Equation

• Assets
• Liabilites
• Owners Equity
• Revenue
• Expense

7–8. Bought supplies on account from Hyde Park Office Supplies. (p. 16)

• Cash
• Supplies
• Prepaid Insurance
• Accounts Pay. - Hyde Park Office Supplies
• Nicole McGraw, Capital

9–10. Paid cash on account to Hyde Park Office Supplies. (p. 16)

• Cash
• Supplies
• Prepaid Insurance
• Accounts Pay. - Hyde Park Office Supplies
• Nicole McGraw, Capital