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TC Study Stack 2

Accts and Balances (teachers sheet)

QuestionAnswer
TYPICAL BALANCE & SHEET: Prepaid expense Debit-BALANCE SHEET
TYPICAL BALANCE & SHEET: Property plant equipment Debit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Common stock Credit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Mortgage payable Credit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Intangibles Debit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Long-term investments Debit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Inventory Debit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Tax expense Debit-INCOME STATEMENT
TYPICAL BALANCE & SHEET: Wages payable Credit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Depreciation expense Debit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Accumulated depreciation Credit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Cost of goods sold Debit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Interest revenue Credit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Extraordinary gain Credit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Selling expense Debit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Sales discount Debit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Copyrights Debit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Sales Credit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Sales returns and allowances Debit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Cash Debit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Retained earnings Credit-STOCK HOLDER’S EQUITY & BALANCE SHEET
TYPICAL BALANCE & SHEET: Taxes payable Credit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Extraordinary loss Debit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Interest Expense Debit- INCOME STATEMENT
TYPICAL BALANCE & SHEET: Unearned revenue Credit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Additional paid in capital Credit- BALANCE SHEET
TYPICAL BALANCE & SHEET: Allowance for doubtful accounts Credit – BALANCE SHEET
TYPICAL BALANCE & SHEET: Service revenue Credit – INCOME STATEMENT
TYPICAL BALANCE & SHEET: Land Debit - BALANCE SHEET
TYPICAL BALANCE & SHEET: Prepaid expense Debit - BALANCE SHEET
TYPICAL BALANCE & SHEET: Marketable Securities Debit - BALANCE SHEET
TYPICAL BALANCE & SHEET: Goodwill Debit - BALANCE SHEET
TYPICAL BALANCE & SHEET: EPS Income Statement
TYPICAL BALANCE & SHEET: Accounts Receivable Debit - BALANCE SHEET
TYPICAL BALANCE & SHEET: Prepaid Insurance Debit - BALANCE SHEET
TYPICAL BALANCE & SHEET: Dividends Debit – STOCKHOLDER’S EQUITY
TYPICAL BALANCE & SHEET: Leasehold Debit - BALANCE SHEET
TYPICAL BALANCE & SHEET: Organization costs Debit - BALANCE SHEET
TYPICAL BALANCE & SHEET: Rent received in advance Credit - BALANCE SHEET
TYPICAL BALANCE & SHEET: Deferred income tax liability Debit AND Credit - BALANCE SHEET
TYPICAL BALANCE & SHEET: Treasury Shares Debit - BALANCE SHEET
ACCOUNT TYPE: Prepaid expense ASSET
ACCOUNT TYPE: Property plant equipment ASSET
ACCOUNT TYPE: Common stock EQUITY
ACCOUNT TYPE: Mortgage payable LIABILITY
ACCOUNT TYPE: Intangibles ASSET
ACCOUNT TYPE: Long-term investments ASSET
ACCOUNT TYPE: Inventory ASSET
ACCOUNT TYPE: Tax expense EXPENSE
ACCOUNT TYPE: Wages payable LIABILITY
ACCOUNT TYPE: Depreciation expense EXPENSE
ACCOUNT TYPE: Accumulated depreciation CONTRA ASSET
ACCOUNT TYPE: Cost of goods sold EXPENSE
ACCOUNT TYPE: Interest revenue REVENUE
ACCOUNT TYPE: Extraordinary gain REVENUE/GAIN
ACCOUNT TYPE: Selling expense EXPENSE
ACCOUNT TYPE: Sales discount CONTRA REVENUE
ACCOUNT TYPE: Copyrights ASSET
ACCOUNT TYPE: Sales EXPENSE
ACCOUNT TYPE: Sales returns and allowances CONTRA REVENUE
ACCOUNT TYPE: Cash ASSET
ACCOUNT TYPE: Retained earnings EQUITY
ACCOUNT TYPE: Taxes payable LIABILITY
ACCOUNT TYPE: Extraordinary loss EXPENSE/LOSS
ACCOUNT TYPE: Interest Expense EXPENSE
ACCOUNT TYPE: Unearned revenue LIABILITY
ACCOUNT TYPE: Additional paid in capital EQUITY
ACCOUNT TYPE: Allowance for doubtful accounts CONTRA ASSET
ACCOUNT TYPE: Service revenue REVENUE
ACCOUNT TYPE: Land ASSET
ACCOUNT TYPE: Prepaid expense ASSET
ACCOUNT TYPE: Marketable Securities ASSET
ACCOUNT TYPE: Goodwill ASSET
ACCOUNT TYPE: EPS DISCLOSURE ITEM
ACCOUNT TYPE: Accounts Receivable ASSET
ACCOUNT TYPE: Prepaid Insurance ASSET
ACCOUNT TYPE: Dividends CONTRA EQUITY
ACCOUNT TYPE: Leasehold ASSET
ACCOUNT TYPE: Organization costs ASSET
ACCOUNT TYPE: Rent received in advance LIABILITY
ACCOUNT TYPE: Deferred income tax liability LIABILITY
ACCOUNT TYPE: Treasury Shares CONTRA EQUITY
Created by: dimbooti
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