EXERCISES-Chapter 1-2-3-4

If you think that any item might fit into more than

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ic period of time, such as a month or a year Classification: Asset, Liability, Revenue, Expense? If you think that any item might fit into more than one of these categories, explain why? MATCH EACH OF THE FOLLOWING STATEMENTS WITH ITS PROPER TERM A. Account D. Accounting G. Financial Accounting J. Expense M. Revenue P. Statement of Cash flow B. Account Payable E. Accounting Equation H. Management Accounting K. Liabilities N. Prepaid expense Q. Statement of Owner’s Equity C. Account Receivable F. Assets I. Business transactions L. Owner’s Equity O. Balance sheet R. Income Statement a. b. c. Bank S,Peel Capital Accounts Payable d. e. Accounts Receivable Inventory for Funiture Fabrics Interest Investment 15. The liability created by a purchase on account 16. A claim against the customer 17. An accounting form that is used to record the increases and decreases in each f. g. h. i. Land mortaged to a Building Society Mortage Payable j. e. k. l. m. N Motor Vehicles Rent Salaries & Wages Repair Fees Inventory of Other Materials . Tools financial statement item 18. A specialized field of accounting that used estimated data to aid management in running day-to-day operations and in pla...
View Full Document

This document was uploaded on 03/26/2014.

Ask a homework question - tutors are online