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Fin acc midterm

Midterm

TermDefinition
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: deleted user
 

 



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