1. What is accounting? And, what are the rules and organizations that govern accounting? 2. What is the Accounting Equation? 3. Define the following terms and give at least three examples of each type of account. Account Type Definition At least three examples Assets Liability Equity 4. Please indicate if the following accounts are increased by a debit or a credit Account Increased by Debit or Credit Cash Accounts Payable Equipment Assets Sales Revenue Rent Expense Accounts Receivable Common Stock Dividends Prepaid Insurance Unearned Revenue 5. What is the normal balance for the following? Account Debit Credit Liabilities Common stock Owner's Capital Withdrawals Owner Revenues Unearned Revenues Expenses Prepaid Rent Accounts Payable Accounts Receivable & Prepare an income statement using the following information for CK Company for the month of February 2019. (Put in titles also) Cash Steve due, Capital Sep. 1 Net income Sep. 2018 Owner investments Wages payable Supplies expense Owner withdraws $ 51,040 197,120 27,456 5,280 11,440 2,640 352 Solution 9999 . 999999 9999999 7. Prepare a statement of owner's equity using the following information for the Can Due Shop for the month of September 2018. (Put in titles also) Cash $ 51,040 Steve due, Capital Sep. 1 197,120 Net income Sep. 2018 27,456 Owner investments 5,280 Wages payable 11.440 Supplies expense 2,640 Owner withdraws 352 Solution 999999 Statement of Owner's Equity