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Fin acc midterm
Midterm
| Term | Definition |
|---|---|
| Cash | Debit (Asset) |
| Patent | Debit (Asset) |
| Petty Cash | Debit (Asset) |
| Office Equipment | Debit (Asset) |
| Prepaid Rent | Debit (Asset) |
| Organization Costs | Debit (Asset) |
| Copyright | Debit (Asset) |
| Goodwill | Debit (Asset) |
| Land | Debit (Asset) |
| All Assets are? | Debits |
| Expenses = | Debit to equity |
| Capital = | Credit to equity |
| Accounts payable | Credit to Liabilities |
| Unearned Revenue | Credit to Liabilities |
| All liabilities are = | Credit |
| Retained Earnings | Credit to Equity |
| Smith (Capital) | Credit to Equity |
| Rental Income | Credit to Equity |
| Paid in capital - common stock | Credit to Equity |
| Fees Earned | Credit to Equity |
| Preferred stock | Credit to Equity |
| Common stock | Credit to Equity |
| Donated Capital | Credit to Equity |
| Service Revenue | Credit to Equity |
| Treasury Stock | Debit to Equity |
| Advertising Expense | Debit to Equity |
| Cost to goods sold | Debit to Equity |
| Smith, withdrawls | Debit to Equity |
| Cash Dividends | Debit to Equity |
| Shipping Expense | Debit to Equity |
| Rent Expense | Debit to Equity |
Created by:
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Popular Accounting sets