Identifying Assets, Liabilities, and Owner%27s EquityAuthor: Zimmer Jim
Description: Match the corresponding Account Classifications with their corresponding accounts.
Keywords: , , , , , , online teaching
0. Accounts Payable
3. Rent Earned
6. Payroll Tax
7. Rent Paid
9. Accounts Receivable
11. Prepaid Insurance
14. Merchandise Inventory
Used to cover any accidents or damage.
Paying for a building location
Government Collected in relatiion to salaries.
3. Owner%27s Equity
The Owner%27s Account
Large Machines used to run the business
5. Owner%27s Equity
Money taken from the business by the owner
The money paid to workers
Electricity, Phone Bill, Cable, Water, etc..
Actual Products sold by a company
Accounts paid later
Items that help run the business but get used up.
Government Owed, April 15th
When you charge someone else to use your assets
Day to day acitivies and merchandise generate this.
Money received later
Same as a Check