Select the type of resource the following can be classified as:

Goods, Supplies, Inventory

Select the type of resource the following can be classified as:

Rent paid

Select the type of resource the following can be classified as:

Cash

Select the type of resource the following can be classified as:

Bank Loan

Select the type of resource the following can be classified as:
Motor vehicles

Select all asset accounts listed below.

Select all examples of liability accounts

Revenue and expenses are recorded under:

Select all examples of asset accounts.

Select all examples of owner's equity accounts

Debit is on the left and credit is on the right for ALL t accounts.

Asset accounts increase with a

Asset accounts decrease with a

Liability accounts increase with a

Liability accounts decrease with a

Owner's capital and sales increase with a

Owner's capital and sales decrease with a

Owner's drawing and expenses increase with a

Owner's drawing and expenses decrease with a

The normal balance is always the side of the t account that increases.

Economic resources of business that expected to be of benefit in future time referred as?

Liabilities are

All of following are Assets except

Revenue

All of following are Expenses except

All economic costs that a business incur through its operation to earn revenues?

All of the following are Liabilities except

All are examples of intangible assets EXCEPT

Which of the following is an identifiable non-monetary asset without physical substance?

An increase in Liability, Equity, Revenue should be _____________.

An decrease in Liability, Equity, Revenue should be _____________.

A decrease in Assets, Drawing, Expenses should be _____________.

An increase in Assets, Drawing, Expenses should be _____________.

Assets, Drawing, Expenses will have a normal balance that need to be debited.

Atty. Jen Campaniero began the practice of law by investing ₱500,000 in cash.

Paid monthly rental of the office space ₱20,000.

Purchased office equipment, ₱50,000 and office supplies, ₱10,000 for cash.

Completed legal work for Jenie Rose Blak and collected ₱30,000 cash.

Purchased additional office equipment from Tagig Marketing on credit, ₱50,000.

Paid the monthly salary of the office secretary, ₱15,000.

Completed legal work for Pedro Dimautangan on credit, ₱20,000.

Paid one-half of the amount due to Tagig Marketing.

Withdrew ₱10,000 from the business for personal expenses.

An amount recorded on the left of a T account is a credit.

One of the steps in transaction analysis is to determine the amount to be credited or debited.

If Assets are P5,000 and Liabilities are P2500, how much is Capital?

If Capital is P5,000 and Liabilities are P2,500, how much are Assets?

If Assets are P20,000 and Capital is P 5,000 , how much are Liabilities?

An account has a total debit of P500 and total credit of P50. The account has a balance of P450.