Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (I), balance sheet (B), statement of retained earnings (E), statement of cash flows (CF), or statement of retained earnings and statement of cash flows (E & CF).

Assets

Cash from Operating activities

Dividends

Equipment

Expenses

Liabilities

Net decrease(or increase) in cash

Revenues

Total liabilities and equity

Identify each of the following items as revenues, expenses, or dividends

Cash of sales

Service Revenue

Wages Expense

Dividends

Identify each of the following items as assets, liabilities, or equity from the drop down provided.

Land

Common Stock

Equipment

Accounts payable

Accounts Receivable

Identifying

Complete the following table with either a yes or no regarding the attributes of a proprietorship, partnership, and corporation

Proprietorship Partnership Corporation

Business taxed

Business entity

Legal entity

Identify the following users as either external users or internal users from the dropdown provided

Customers

Suppliers

Brokers Business press

Managers

District attorney

Shareholders

Lenders

Controllers

FBI and IRS

Consumer group

Janitors

Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account.

Cash

Prepaid Rent

Office Supplies

Prepaid Insurance

Office equipment

Common stock

Accounts Payable

Unearned Rent Revenue

Dividends

A chart of accounts is a list of all ledger accounts and an identification number for each. Identify the following accounts as either an asset (A), liability (L), equity (EQ), revenue (R), or expense (E) account.

Advertising Expense

Rent Revenue

Rent Receivable

Patents

Rent Payable

Furniture

Notes Payable

Common Stock

Utilities Expense

Identify the normal balance (debit or credit) for each of the following accounts.

Fees Earned(revenues)

Office Supplies

Dividends

Wages Expense

Accounts Receivable

Prepaid Rent

Wages Payable

Building

Common Stock

Indicate whether a debit or credit decreases the normal balance of each of the following accounts.

Interest Payable

Service Revenue

Salaries Expense

Accounts Reveivable

Common Stock

Prepaid Insurance

Buildings

Interest Revenue

Dividends

Unearned Revenue

Accounts Payable

Land

Identify whether a debit or credit yields the indicated change for each of the following accounts.

To increase Land

To decrease Cash

TO increase Fees Earned(revenues)

To increase office expense

To decrease Unearned Revenue

To decrease Prepaid Rent

To increase Notes Payable

To decrease accounts Receivable

To increase Common Stock

To increase Store equipment