Increases or Decreases
Accounting Equation
Odd Man Out...
Name at least 1 account..
100
Cash in Bank; paid for the monthly rent by check
What is decrease
100
______ = ________ + ________
What is Assets = Liabilities + Owner's Equity
100
Barack Obama, Capital Mitt Romney, Capital Land Bill Clinton, Capital
What is Land
100
Issued a check to pay the electricity bill
What is Cash in Bank or Owner's Equity
200
Owner's Equity; Clothing store receives cash when clothing is sold
What is increases
200
_______ = $7,800 + $12,000
What is $19,800
200
Office Furniture Delivery Equipment Accounts Payable Cash in Bank
What is Accounts Payable
200
Owner transferred a vehicle to be used as delivery equipment
What is Owner's Equity or Delivery Equipment (asset)
300
Owner's Equity; owner transferred a desk to the business
What is increase
300
$25,650 = $10,850 + _______
What is $14,800
300
Equipment Utility Bills Monthly Rent Advertising
What is Equipment
300
Car Wash sold $400 worth of car washes on account
What is Owner's Equity or Accounts Receivable
400
Accounts Payable; issued a check to a creditor in partial payment of amount owed
What is decrease
400
$30,700 = ________ + $16,500
What is $14,200
400
Office Furniture Office Supplies Office Equipment
What is Office Supplies
400
Owner took a computer from the business for personal use
What is Owner's Equity or Computer Equipment (asset)
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