Which of the following is not an asset? a.cash b.inventory c.owner's equity d.investments

Q: The accounting equation is expressed as ________.A. Assets + Liabilities = Owner’s EquityB. Assets –…

A: Accounting equation is one of the important concept used in accounting. Three elements of accounting…

Q: Asset, liability, and stockholders' equity items Indicate whether each of the following is…

A: Balance sheet:  It refers to one of the financial statements that shows all the liabilities, equity…

Q: What is the debit for the investment of the owner * O debit assets debit liability debit equity…

A: When owner invests amount or assets in the business, then one side it will increase assets for the…

Q: Included on the balance sheet are O a. income and expenses. O b. assets, liabilities, and owner's…

A: The financial statements of the business includes the income statement and balance sheet. The income…

Q: Which of the following is not shown in a balance sheet? O a. Current assets O b. Liability O C.…

A: The balance sheet shows the financial position of the entity and it shows the resources controlled…

Q: The accounting equation may be expressed as(a) Assets = Liabilities - Owner's Equity.(b) Assets =…

A: The different accounts in business balance sheet are described as assets, liabilities and owner's…

Q: Which is FALSE ? A. Assets = Owner’s Equity + Liabilities. B. Assets – Liabilities =…

A: As per balance sheet All assets of a company must be equal to equity and all liabilities of the…

Q: Required a. Record the events in a statements model shown below. b. Prepare an income statement, a…

A: Worksheet can be defined as the multi-columnar recording of the business transactions. It shows the…

Q: A debit balance in the Retained Earnings accounts is reported as a (an) a. asset b.…

A: Retained Earnings refers to amount of Profit set aside by the company during the year. it is known…

Q: Which of the following isNOT RUE the Statement of Financial Position and the Profit and Loss…

A: Financial statements are prepared by an entity with a view to evaluate the different aspects of…

Q: Which of the following options is not recorded in the Balance sheet? a. Goodwill b. Building c. Rent…

A: Note: All the assets, liabilities and equity accounts are recorded in the balance sheet. And all the…

Q: Which one of the following statement is TRUE? a. Cash is non-current asset b. Outstanding expenses…

A: Current assets are all those assets that are realizable to cash within one year such as accounts…

Q: 1. Which T-account is incorrect? a. Depreciation Expense b. Interest Receivable c. Capital Stock d.…

A: The T-accounts are prepared as debit on left side and credit on right side.

Q: A) current assets and current liabilities B) What are they? C)Why show them? D)I still don’t…

A: 1. Financial Statement - Financial Statement is the statement which includes Income Statement,…

Q: Classify each of the following items as an Asset (A), Liability (L), or part of Owner’s Equity (OE).…

A: Assets are in form of current or tangible or intangible assets.

Q: A purchase of an asset on account a. decreases expenses. b. decreases owner's equity. c. increases…

A: Accounting Equation :— It is the relationship between assets, liabilities and owner's equity.…

Q: Transactions that affect the debit and creditof the following: A. Cash B. Accounts Receivable C.…

A: A credit is often positioned on the correct aspect of AN entry. It will increase liability, revenue…

Q: What part of the A=L +SE does expenses and revenues under and are they CR or DR balances? Expenses…

A: The accounting equation shows that sum of all assets= sum of liabilities + sum of owner's…

Q: owner's equity is  A. added to assets and the two are equal to liabilities b. added to liabilities…

A: Owners' equity: The claims of owners on a company's resources, after the liabilities are paid off,…

Q: The ownership claim on company’s assets A. Equity B.withdrawal C. Revenue. D. Expense

A: The Ownership claim on company's assets are called Equity. Equity Contains the Capital and retained…

Q: A statement of owner's equity shows everything that affects the: a.Cash balance. b.liability account…

A: An equity statement – also referred to as a statement of owner’s equity or statement of changes in…

Q: The statement that shows the resources owned by the owner, the creditors' claim over it and the net…

A: a. Statement of changes in owner's equity - It is a statement which reconciles the opening balance…

Q: The debit side of an account a.is the left side of the account b.is the right side of the account…

A: Each Account has two sides debit and credit side.

Q: Which of the following is the correct accounting​ equation?   A. Assets​ + Revenues​ = Liabilities​…

A: Assets = Resource of financial value owned or controlled by the company. Liability = Obligation to…

Q: Which of the following normally has a net credit balance? A. Asset accounts such as cash, accounts…

A: Credit Balance :— It means Credit is greater than debit. It is listed in credit side of trial…

Q: Which among the following transactions would have n equity? O a. Drawings made by the owner O b.…

A: Solution: "Purchase of supplies on credit" would have no effect on Equity. This is because supplies…

Q: Which of the following accounts is an owners equity account ? A.Account payable B.Prepaid expenses…

A: Owners Equity Account It is the owners' investment in an asset after all liabilities have been…

Q: ot included on the statement of owner's equity? a.Additional investments by t

A: The right answer is option d.Revenues

Q: Asset, liability, and owner's equity items   Indicate whether each of the following is identified…

A: The balance sheet displays the assets, liabilities and owners' equity of the business.

Q: What type of account is Aaron Pickle, Capital?      Asset         Liability         Owner’s equity…

A: Lets understand the basics. When any business is started then whatever owners bring consider under…

Q: Asset (A), Liability (L), or Equity (E)? a. Interest Revenue b. Accounts Payable C. Calhoun, Capital…

A: Assets means the resources which is owned by business. Liability means the amount which is to be…

Q: The gain or loss on net monetary position is computed as a. The difference between the “net monetary…

A: In the period of inflation, an entity incurs purchasing power loss on holding of monetary assets and…

Q: Which of these accounts is an asset? A. Common Stock B. Supplies C. Accounts Payable D. Fees Earned

A: Introduction: Assets: Asset means having Economic value to the resource. Assets are of two types: 1…

Q: Which of the following is incorrect? A. Capital + Liabilities = Assets B. Assets - Liabilities =…

A: Every transaction has dual effect on the books of account. The question is from the topic of…

Q: The account Gain (Loss) on Sale of Investments should be included on the: A. balance sheet as an…

A: Introduction: Balance sheet: All Assets and liabilities are shown in Balance sheet. It tells the net…

Q: b. increase assets and decrease liabilities c. decrease total assets and decrease liabilities d.…

A: Buying the supplies using cash will reduce the cash of the entity.

Q: Which one of the following equations correctly expresses the relationship * ?between assets (A),…

A: The accounting transactions effect two or more accounts of the business making accounting equation…

Q: Classify the following into assets and liabilities a) Building b) Мachincry c) Creditor di Debtor e)…

A: Assets are the items that will provide economic benefit to the business in the future, while…

Q: Which among the following transactions would have no effect on equity? O a. Drawings made by the…

A: Equity is the amount of investment made by owner of a company.it has effect of profit or loss and…

Q: Asset, liability, and stockholders' equity items Indicate whether each of the following is…

A: a. Accounts Payable is a Liability (Current Liability) b. Cash is a Assets (Current Assets) c. Fees…

Q: Which should be classified as a financial asset? a. Patent b. Trade Accounts Receivable c.…

A: Financial assets are also known as non-physical assets. It is because it is generated through a…

Q: Realized gains and losses on investments available for sale are reported a. as a current asset b.…

A: Realized gains and losses on investments available for sale are reported on the income statement…

Q: In which of the financial statements do Inventory and Cost of goods sold appear? A) on the balance…

A: Hi student Since there are multiple questions, we will answer only first question. If you want…