Accounting 1 Review

Front

What is an example of an account that has a normal debit balance? Options: Accounts Receivable/Oakdale School, Accounts Payable/Jones Supply, Mary Johnson, Capital, Sales

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Accounts Receivable/Oakdale School

Front

Mariah Smith, Capital and Mariah Smith, Drawing are both classified as: owner's equity, expenses, liabilities, revenue

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owner's equity

Front

What is an example of an account that has a normal credit balance? Options: Cash, Prepaid Insurance, Accounts Payable/Jones Supply, Supplies

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Accounts Payable/Jones Supply

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What is an example of an account that has a normal debit balance? Options: Accounts Payable/Ray's Office Equipment, Rent Expense, Mary Johnson, Capital, Sales

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Rent Expense

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Cash, Office Equipment, and Prepaid Insurance are all classified as: liabilities, revenue, assets, owner's equity

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assets

Front

Rent, the telephone bill, and advertising costs are all classified as: expenses, assets, revenue, liabilities

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expenses

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Sales are classified as

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revenue

Front

What is an example of an account that has a normal credit balance? Options: Cash, Supplies, Sales, Office Equipment

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Sales

Front

What is an example of an account that has a normal debit balance? Options: Accounts Payable/Adam's Office Supply, Sales, Advertising Expense, Mary Johnson, Capital, Sales

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Advertising Expense

Front

What is an example of an account that has a normal credit balance? Options: Advertising Expense, Accounts Receivable/Davis Company, Delivery Revenue, Samuel Johnson, Drawing

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Delivery Revenue