Accounting Ch 1

Cash is classified as a(n)

• Asset
• Liability
• Owner's Equity
• Revenue

Kim Park, Capital is classified as a(n)

• Asset
• Liability
• Owner's Equity
• Expense

Prepaid Insurance is classified as a(n)

• Asset
• Liability
• Owner's Equity 
• Revenue

Accounts Payable, Supply Depot is classified as a(n)

• Asset 
• Liability
• Owner's Equity
• Expense

Kim Park, Drawing is classified as a(n)

• Asset
• Liability
• Owner's Equity
• Expense

The Accounting Equation is

• Assets = Owner's Equity
• Assets + Liabilities = Owner's Equity
• Assets - Liabilities = Owner's Equity
• Assets = Liabilities + Owner's Equity

Sales is classified as a(n)

• Asset
• Liability
• Owner's Equity
• Revenue

Accounts Receivable, Oakdale School is classified as a(n)

• Asset
• Liability
• Owner's Equity
• Revenue

Utilities Expense is classified as a(n)

• Asset
• Liability
• Owner's Equity
• Expense

Received Cash as an Investment from owner

• + Cash 
  + Owner's Equity 
• - Cash 
  - Owners' Equity
• + Cash
  - Owner's Equity
• - Cash
  + Owner's Equity