Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
13 Cards in this Set
- Front
- Back
|
balance sheet |
at a point in time |
|
|
income statement |
after period ended |
|
|
t accounts - what s on the left |
debit |
|
|
an increase to assets |
debit |
|
|
and increase to equity |
credit |
|
|
normal balance |
balance you would expect the account to have at the end of a period |
|
|
type accounts payable |
liability |
|
|
type supplies |
asset |
|
|
type fees earned |
revenue |
|
|
type rent |
expense |
|
|
type unearned revenue |
liability |
|
|
accounts payable normal balance |
credit |
|
|
accounting equation |
assets= liability+contributed capital+retained earnings
assets=liabilities+ equity |
