WorksheetsACCOUNTS TITLE
Total questions: 10
Worksheet time: 2mins
Refers to amounts that your business owes or expenses you may have incurred but have not yet paid.
ASSETS
LIABILITIES
INCOME
EXPENSE
Refers to amount of money your company earns from selling its products or services.
ASSETS
EQUITY
EXPENSE
INCOME
Receivables supported by oral or informal promises to pay.
Notes Receivables
Oral Receivables
Account Receivables
Cash
Consist of various assets such as machineries, transportation, office, computer, furniture and fixtures.
Land
Equipment
Building
Supplies
Represents the goods that are held for sale by a business.
Prepaid Supplies
Prepaid Rent
Prepaid Insurance
Inventory
Obligations supported by written or formal promises to pay by the debtor in the form of promissory notes.
Accounts Payable
Notes Payable
Salaries Payable
Utilities Payable
This account is used to record the temporary withdrawals of the owner during the period.
Capital
Revenue
Drawings or Withdrawal
Expenses
Sellers’ cost of delivering goods to customers.
Utilities Expense
Freight Out
Miscellaneous Expense
Transportation Expense
Represents the value of inventories that have been sold during the accounting period.
Interest Expense
Depreciation Expense
Bad Debt Expense
Cost of Goods sold
Revenues earned from the sale of goods.
Service Fees
Sales
Interest Income
Gains
