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B-02.015 Problem

B-02.015 Problem - c Normal balance of an asset d Amounts...

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B-02.015 Each item from the top listing (a - g) logically corresponds to an item in the bottom listing (1 - 7). Match each as best as possible so that there is a one-to-one correspondence for every item. Then, identify the accounting term or tool to which the matched pairs relate. For example, "cash" (a) relates to "equipment used in the business" (4) -- they are both assets. a Cash b Chronological listing of transactions in debit/credit format
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Unformatted text preview: c Normal balance of an asset d Amounts owed to the bank e Where journal entries are posted f Increases revenue g Utility costs incurred in the operation of the business 1 Accounts payable 2 All accounts, collectively 3 Book of original entry 4 Equipment used in a business 5 Nature of a decrease in a liability 6 Rent costs incurred and paid to the landlord 7 Used to increase an equity account...
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