Account Types

Select all asset accounts listed below.

• Accounts Payable

• Cash

• Supplies

• Owner's Capital

Select all examples of liability accounts

• accounts payable

• accounts receivable

• loan payable

• owner's capital

Revenue and expenses are recorded under:

• assets

• liabilities

• owner's equity

Select all examples of asset accounts.

• accounts receivable

• accounts payable

• prepaid insurance

• sales

Select all examples of owner's equity accounts

• cash

• owner's capital

• accounts payable

• owner's drawing

Debit is on the left and credit is on the right for ALL t accounts.

• true

• false

Asset accounts increase with a

• debit

• credit

Asset accounts decrease with a

• debit

• credit

Liability accounts increase with a

• debit

• credit

Liability accounts decrease with a

• debit

• credit