Mindtap 4-1 Accounting 1 Posting Entries

Match the following

• Owner's Equity

• Cash in Bank

• Asset

• Accounts Payable

• Liability

• Revenue

Match the following

• Asset

• Accounts Receivable

• Owner's Equity

• Rose Lillie, Capital

• Liability

• Accounts Payable

For rules of debit and credit which account increases on the debit side?

• Liability

• Revenue

• Assets

Classify the account:

CAPITAL

• ASSET

• LIABILITY

• OWNER'S EQUITY

Classify the account:

DRAWING

• ASSET

• LIABILITY

• OWNER'S EQUITY

• Revenue

Classify the account:

WITHDRAWAL

• ASSET

• LIABILITY

• OWNER'S EQUITY

Assets, Liabilities and Owners Equity are recorded on

• Income statement

• Statement of owners equity

• Balance sheet

Revenue and Expenses are recorded on

• Balance sheet

• Statement of Owners Equity

• Income statement

Liabilities

• 100

• 200

• 300

• 400

• 500

Expenses

• 100

• 200

• 300

• 400

• 500