Identify each of the following accounts of Kaiser Services Co. as asset, liability, owner's equity, revenue, or
Question:
a. Accounts Payable
b. Accounts Receivable
c. Amanda Whitmore, Capital
d. Amanda Whitmore, Drawing
e. Cash
f. Fees Earned
g. Office Equipment
h. Rent Expense
i. Supplies
j. Wages Expense
Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive... Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...
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Accounting
ISBN: 978-1133607601
25th edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
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