What is The account used to summarize the owner's equity in a business.
100
Drawing
what is debit
100
The right side of a T chart?
What is Credit side
100
Liability Number?
What is 200
100
The journal entry to close Income Summary when there is a net income
What is debit Income Summary, credit owner's capital
200
the accounting concept general journal?
What is a journal with two amount columns in which all kinds of entries can be recorded.
200
Sales
What is credit
200
An endorsement on the back of a check consisting only of a signature is?
a)Special endorsement
b)Blank endorsement
c)Restrictive endorsement
d)Incorrect endorsement
what is b)Blank endorsement
200
Owner's equity number?
What is 300
200
Adjusting Entries?
What is Supplies Expense, Supplies, Insurance Expense, and Prepaid Insurance.
300
memorandum?
What is A form on which a brief message is written describing the transaction.
300
Cash?
What is a credit
300
Recording revenue from business activities and expenses associated with earning that revenue in the same accounting period is an application of the accounting concept:
a)Accounting Period Cycle
b)Consistent reporting
c)Matching expenses with revenue
d)Going concern
What is c)Matching expenses with revenue
300
What are the income statement account numbers?
What is 400 and 500
300
The closing entry for sales
What is debit sales and credit income summary
400
A fiscal period?
What is the length of time for which a business summarizes and reports financial information.
400
Petty Cash?
What is Debit
400
On a worksheet, the balance of the owner's capital account is extended to the...
a)Balance sheet credit column
b)Balance sheet debit column
c)Consistent reporting
d)Income Debit column
What is a)Balance sheet credit column
400
What do the chart of account number go by?
What is 10s
400
The net outcome is a net loss?
What is Capital is debited, Income Summary is Credited.
500
The accounting concept that is applied when financial statements contain all information necessary to understand a business's financial condition?
What is The Adequate Disclosure
500
Income Summary?
What is Debit or Credit
500
Information needed to prepare an income statement revenue section is obtained from a worksheet's account title column and..
a)Balance sheet credit column
b)Income statement debit column
c)Balance sheet debit column
d)Income statement credit column