Five account classifications are shown as column headings in the table below. For each accountclassification, indicate the manner in which increases and decreases are recorded (i.e., by debits orby credits).Owners’Revenue Expenses Assets Liabilities EquityIncreases recorded by:Decreases recorded by:

Accrued revenues would appear on the balance sheet as A. assets B. liabilities C. capital D. prepaid expensses

topic: double-entry accounting indicate how to increase each of the accounts below (credit or debit) cash- accounts payable- supplies- accounts receivable-

What are the the main classifications/types of accounts? Income statement accounts Balance sheet accounts Revenues and expenses Assets, liabilities, equity, revenues, expenses

When should an average amount be used for the numerator or denominator? When the denominator is a balance sheet item or items. When a ratio consists of an income statement item and a balance sheet item. When the numerator is a balance sheet item or items. When the numerator is an income statement item or items.

Identify the financial statement on which each of the following accounts would appear:   the income statement, the retained earnings statement, or the balance sheet: a. Insurance Expense b. accounts receivable c. office supplies d. sales revenue e. common stock f. notes payable

In which of the following types of accounts are increases recorded by credits?   Question 8 options:   Revenue, Dividends   Liability, Revenue   Dividends, Asset   Expense, Liability

Which of the following correctly describes how accounts payable will appear on the financial statements? Multiple Choice O O Liability on the balance sheet Asset on the balance sheet Expense on the income statement Revenue on the income statement

5. Know the calculations for all of the following ratios (see ratio sheet that can be used on the exam) and know the category (listed in Question 4) they fall in: Formula Category/Use Ratio Working Capital Current Assets - Current Liabilities Net credit sales/Average Accounts Receivable Turnover accounts receivable Asset Turnover Net sales/Average total assets Net income/Average total stockholders' equity Total liabilities/Total stockholders equity Net income/Net sales Return on Equity (ROE) Debt to equity Return on Sales (ROS) (also known as Net Margin Current Assets/Current Liabilities Cost of goods sold/Average inventory Quick assets/Current Current Ratio Inventory Turnover Quick Ratio liabilities Dividend Yield Dividends per share/Market price per share Net earnings available for common stock/Number of outstanding common shares Net income/Average total Earnings per Share (EPS) Return on Investment (ROI) assets Price Earnings Ratio (P/E) Market price per share/Earnings per share…

The following lettered items represent a classification scheme for a balance sheet, and the numbered items represent data found on balance sheets. In the blank next to each account, write the letter indicating to which category it belongs. А. Current assets В. Investments C. Property, plant, and equipment D. Intangible assets Е. Current liabilities F. Long-term liabilities G. Stockholders' equity Н. Not on the balance sheet