ACCT504 Week 2 Discussion Workout Questions

ACCT504 Week 2 Discussion Workout Questions

ACCT504 Week 2 Discussion Workout Questions

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1. Below, I have listed various accounts for a company. On which statement (income statement, balance sheet, etc.) would you find this item? Explain what the item is. Also note if this account is generally a debit or credit balance account. Do two items only and leave some for others! PLEASE DO THEM IN ORDER!!! This way everyone knows what has been done and what still needs to be done. I appreciate your cooperation and your fellow students will also!
Cash
Accounts Receivable
Prepaid Insurance
Accounts Payable
Notes payable
Accrued payroll

2. Below, I have listed various accounts for a company. On which statement (income statement, balance sheet, etc.) would you find this item? Explain what the item is. Also note if this account is generally a debit or credit balance account. Do two items only and leave some for others! PLEASE DO THEM IN ORDER!!! This way everyone knows what has been done and what still needs to be done. I appreciate your cooperation and your fellow students will also!
Vehicles
Supplies
Supplies expense
Wage expense
Retained Earnings
Goodwill

3. Below, I have listed various accounts for a company. On which statement (income statement, balance sheet, etc.) would you find this item? Explain what the item is. Also note if this account is generally a debit or credit balance account. Do two item only and leave some for others! PLEASE DO THEM IN ORDER!!! This way everyone knows what has been done and what still needs to be done. I appreciate your cooperation and your fellow students will also!
Trademarks
Patents
Petty Cash
Bonds Payable
Common Stock
Preferred Stock
4. Below, I have listed various accounts for a company. On which statement (income statement, balance sheet, etc.) would you find this item? Explain what the item is. Also note if this account is generally a debit or credit balance account. Do two items only and leave some for others! PLEASE DO THEM IN ORDER!!! This way everyone knows what has been done and what still needs to be done. I appreciate your cooperation and your fellow students will also!
Treasury Stock
Service Revenue
Interest Income
Interest Expense

 

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