Accounting Review

1
Accounting Review

• Classify AccountsDR or CR

2
Classify Account

• Rent Expense

• Expense

3
Classify Account

• Supplies

• Asset

4
Classify Account

• Simon Cowell, Capital

• Owners Equity

5
Classify Account

• Advertising Exp.

• Expense

6
Classify Account

• Sales

• Revenue

7
Classify Account

• Cash

• Asset

8
Classify Account

• Miscellaneous Expense

• Expense

9
Classify Account

• Simon Cowell, Drawing

• Owners Equity
• (Contra capital)

10
Classify Account

• Prepaid Insurance

• Asset

11
Classify Account

• Utilities Expense

• Expense

12
Classify Account

• Accounts Receivable

• Asset

13
Classify Account

• Accounts Payable

• Liability

14
DECREASE DR or CR

• Liabilities

• DR

15
DECREASE DR or CR

• Supplies

• CR

16
INCREASE DR or CR

• Cash

• DR

17
INCREASE DR or CR

• Sales

• CR

18
DECREASE DR or CR

• Cash

• CR

19
INCREASE DR or CR

• Accounts Receivable

• DR

20
INCREASE DR or CR

• Prepaid Insurance

• DR

21
INCREASE DR or CR

• Supplies

• DR

22
INCREASE DR or CR

• Petty Cash

• DR

23
INCREASE DR or CR

• Asset

• DR

24
DECREASE DR or CR

• Sales

• DR

25
INCREASE DR or CR

• Owners Equity

• CR

26
DECREASE DR or CR

• Revenue

• DR

27
DECREASE DR or CR

• Owners Equity

• DR

28
INCREASE DR or CR

• Miscellaneous Expense

• DR

29
DECREASE DR or CR

• Rent Expense

• CR

30
INCREASE DR or CR

• Utilities Expense

• DR

31
INCREASE DR or CR

• Accounts Payable

• CR

32
DECREASE DR or CR

• Accounts Payable

• DR

33
INCREASE DR or CR

• Simon Cowell, Capital

• CR

34
INCREASE DR or CR

• Simon Cowell, Drawing

• DR

35
INCREASE DR or CR

• Expense

• DR

36
DECREASE DR or CR

• Prepaid Insurance

• CR

37
DECREASE DR or CR

• Accounts Receivable

• CR

38
DECREASE DR or CR

• Simon Cowell, Capital

• DR

39
DECREASE DR or CR

• Miscellaneous Expense

• CR

40
DECREASE DR or CR

• Sales

• DR

41
DECREASE DR or CR

• Assets

• CR

42
INCREASE DR or CR

• Rent Expense

• DR

43
DECREASE DR or CR

• Expenses

• CR

44
INCREASE DR or CR

• Liabilities

• CR

45
DECREASE DR or CR

• Owners Equity

• DR

46
DECREASE DR or CR

• Revenue

• DR

47
INCREASE DR or CR

• Sales

• CR