Exam Flashcards by Emily Parsons

Q

What type of account is DIVIDENDS?

A

Equity

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Q

What type of account is RETAINED EARNINGS?

A

Equity

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Q

What type of account is INSURANCE EXPENSE?

A

Expense

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Q

What type of account is SUPPLIES EXPENSE?

A

Expense

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Q

What type of account is ACCOUNTS RECEIVABLE?

A

Asset

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Q

What type of account is LOAN/NOTES PAYABLE?

A

Liability

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Q

What type of account is RENT EXPENSE?

A

Expense

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Q

What type of account is SERVICE REVENUE?

A

Revenue

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Q

What type of account is CASH?

A

Asset

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Q

What type of account is EQUIPMENT?

A

Asset

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Q

What type of account is SUPPLIES?

A

Asset

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Q

What type of account is ACCOUNTS PAYABLE?

A

Liability

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Q

What type of account is COMMON STOCK?

A

Equity

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Q

What type of account is LAND?

A

Asset

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Q

What type of account is SALES REVENUE?

A

Revenue

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Q

What type of account is ADVERTISING EXPENSE?

A

Expense

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Q

What type of account is BONDS PAYABLE?

A

Liability

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Q

What type of account is SALARIES/WAGE EXPENSE?

A

Expense

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Q

What type of account is SALES TAX PAYABLE?

A

Liability

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Q

What type of account is BUILDING?

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A

Asset

Q

What type of account is INVENTORY?

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A

Asset

Q

What type of account is RENT REVENUE?

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A

Revenue

Q

What type of account is NOTES RECEIVABLE?

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A

Asset

Q

What type of account is COST OF GOODS SOLD?

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A

Expense

DIVIDENDS: up/down with DR/CR?

DR - up CR- down

RETAINED EARNINGS: up/down with DR/CR?

DR - down CR - up

INSURANCE EXPENSE: up/down with DR/CR?

DR - up CR - down

SUPPLIES EXPENSE: up/down with DR/CR?

DR - up CR - down

ACCOUNT RECEIVABLE: up/down with DR/CR?

DR - up CR - down

NOTES PAYABLE: up/down with DR/CR?

DR - down CR - up

RENT EXPENSE: up/down with DR/CR?

DR - up CR - down

SERVICE REVENUE: up/down with DR/CR?

DR - down CR - up

CASH: up/down with DR/CR?

DR - up CR - down

EQUIPMENT: up/down with DR/CR?

DR - up CR - down

SUPPLIES: up/down with DR/CR?

DR - up CR - down

ACCOUNTS PAYABLE: up/down with DR/CR?

DR - down CR - up

COMMON STOCK: up/down with DR/CR?

DR - down CR - up

LAND: up/down with DR/CR?

DR - up CR - down

SALES REVENUE: up/down with DR/CR?

DR - down CR - up

ADVERTISING EXPENSE: up/down with DR/CR?

DR - up CR - down

BONDS PAYABLE: up/down with DR/CR?

DR - down CR - up

SALARIES/WAGE EXPENSE: up/down with DR/CR?

DR - up CR - down

SALES TAX PAYABLE: up/down with DR/CR?

DR - down CR - up

BUILDING: up/down with DR/CR?

DR - up CR - down

INVENTORY: up/down with DR/CR?

DR - up CR - down

RENT REVENUE: up/down with DR/CR?

DR - down CR - up

NOTES RECEIVABLE: up/down with DR/CR?

DR - up CR - down

COST OF GOODS SOLD: up/down with DR/CR?

DR - ? CR - ?