$1.$ What is the Accounting Equation?

$2.$ What is an Asset? $($b$)$ provide a list of examples.

$3.$ What is a Liability? $($b$)$ provide a list of examples.

$4.$ What is Owner$$ Equity. $($b$)$ What are the four types of accounts that affect owners$$ equity? $($c$)$ Which two accounts increase it $($D$)$ and which two accounts decrease equity?

$5.$ What is the difference between $$Accounts Receivables$$ and $$Accounts Payables $.$

QS $1-10$Applying the accounting equation LO$7$

Determine the missing amount for each of the following equations:

QS $1-15$

Tim Roadster began Roadster Servicing on April $1,2017,$ and showed the following items after the first month of operations. Match each of these items with the financial statement or statements on which it should be presented. Indicate your answer by writing the letter or letters for the correct statement$($s$)$ in the blank space next to each item.

a$.$ Income statement

b$.$ Statement of changes in equity

c$.$ Balance sheet

$1.$

Supplies

$$10$

$2.$

Supplies expense

$22$

$3.$

Accounts receivable

$25$

$4.$

Accounts payable

$12$

$5.$

Equipment

$40$

$6.$

Tim Roadster's withdrawals in April

$35$

$7.$

Notes payable

$30$

$8.$

Utilities expense

$$10$

$9.$

Furniture

$20$

$10.$

Revenue

$70$

$11.$

Rent revenue

$35$

$12.$

Salaries expense

$45$

$13.$

Tim Roadster's investments in April

$60$

$14.$

Profit

$?$