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Unformatted text preview: .7 A. Classify Accounts E? Please classify the following accounts as Assets, Liabilities, or Owners' Equity accounts: Cash
Accounts P avable Common Stock
Cost ofGoocls Sold
Accounts Receivable Equipment Wages Pavable
Wages Expense Close I I Walk me through a similar problem Cash Accounts Payable Common Stock Sales Revenue Cost of Goods Sold Accounts Receivable Equipment Wages Expense Wages Pavable Assets Liabilities Owners' Equity Owners' Equity Ovvners' Equitv Assets Assets Owners' Equity Liabilities Welcome, Jesus Almanza Jr Mon Jan 10 2011 Exei cise 'I —l;l Check Answer IE ACCDUHHHQ Equation Icome, Jesus almanza Jr Mon Jan 10 2011 g E / Exercise 1 | Please describe how the following transaction affects
the accounting equation: Issued Common StockforCash Assets = _ + Owners Equity
Increase H Nochange H Increase H Select the appropriate eﬁ'ect from the drop-down lists provided. Type your answers into each of the boxes.
When done, click Check Answer. a Class E Walk m tl'iroum a similar probley / Check Answer B Accounting Equation - lcome, Jesus nimanza Jr as Please describe howthe following transaction affects
the accounting equation: Mon Jan 10 2011 Exercise 2 I Purchased Supplies for Cash Assets No Change a No Change E No Change E Select the appropriate effect from the drop-down lists prwided. Type your answers into each of the boxes.
When cloneI click Check Answer. a Class E] Walk nu throuw a similar Hubby / Check Answer a ...
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This note was uploaded on 04/03/2011 for the course FIN 504 taught by Professor Joe during the Spring '10 term at Keller Graduate School of Management.
- Spring '10