which accounts am i?
received cash from owner as an investment, $17,000
what is cash and capital? (D & C)
a device for recording the changes
what is an account?
Paid cash for rent
what is rent expense and cash? (D & C)
the father of accounting?
what is Luca Pacioli
Paid cash for miscellaneous expense
what is miscellaneous expense and cash? (D & C)
Sold service on account , $300
what is acct. rec. and sales? (D & C)
the difference between the total debits and the total between the credits
what is an account balance?
Paid cash for insurance
what is prepaid insurance and cash? (D & C)
golden rule number 1 of accounting
what is personal A/C? (debit the receiver, credit the giver)
paid cash for advertising
what is advertising and cash ( D & C)
bought supplies on acct., $2,500
What is supplies and acct. pay?
one who is concerned with the design of the system of records.
what is an accountant?
Bought supplies on acct.
what is supplies and acct. pay (D & C)
golden rule number 2
what is Real A/C? (debit goes in, credit goes out)
Received cash from sales
what is supplies and cash? ( D & C)
paid cash for owner for personal use, $900
what is drawing and cash? (D & C)
recording in each fiscal period applicable expenses, whether paid or not, and income earned.
what is accrual accounting?
Paid cash for supplies
what is supplies and cash? (D & C)
golden rule number 3
what is Nominal A/C? (debit expenses and losses, credit incomes and gains)
paid cash on account
What is acct. pay and cash? (D & C)
received cash from sales, $550
what is cash and sales? (D & C)
income actually earned during an accounting period but which will not be received until a future period.
what is accrued income?
Paid cash for telephone bill
what is utilities expenses and cash? (D & C)
accounting day
what is May 22?
Received cash on account
what is cash and account rec? (D & C)