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In June 2022, Ayumi opened a soccer school for King's Own public school. The accounts below appear in the chart of accounts of Ayumi TIA
In June 2022, Ayumi opened a soccer school for King's Own public school. The accounts below appear in the chart of accounts of Ayumi TIA Soccer with Ayumi. Show whether the normal balance is a debit or a credit. Indicate whether the account would appear in the balance sheet or in the income statement, and under what classification, e.g. liability, asset, equity, income or expense. Item Normal Balance Statement Cash Interest Expense Ayumi, Drawings Computer Equipment Prepaid subscription A V A V A V A V A V fees Electricity Expense Motor vehicle Wages Expense Accounts Payable Ayumi, Capital Interest payable 0 Service Revenue Unearned Service : Balance sheet (liability) Revenue Mortgage loan 9 Q U- (D F; 9-. Fl- 0 0 0 0 0 0 0 Prepaid advertising Balance sheet (asset) For each of the following transaction, state the effect on the accounting equation: Purchase an asset for cash Purchase an asset on credit. The business pays cash to its creditors Owner withdraws cash from the business for personal use Owner contributes cash to the business Choose... Choose... Choose... 0 0 0 Choose... Choose... 0 0
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