1. Assets = _______________________ + _________________________.

2. A summary of assets, liabilities, and owner's equity as of a particular date is reported on a statement called the ___________________________ _____________________________.

3. Revenue earned from a sale on account creates an asset called __________________ __________________.

4. An outward or potential outward flow of assets usually causes ______________________.

5. A report that shows how well a business has performed over a period of time is called the ___________________________ ____________________________.

6. Personal expenses unrelated to the business are ____________________________.

Classify each of the following items as an Asset, Liabilities or part of Owner's Equity.

1. Supplies ____________
2. Salaries Payable ____________
3. Kyle E, Capital ____________
4. Cash ____________
5. Accounts Receivables ____________
6. Loans Payable ____________
7. Rent Expense ____________
8. Cleaning Fees Earned ____________
9. Samsung Tablet ____________
10. Prepaid Rent ____________