1 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Withdrawals

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Received cash from owner as an Investment.

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.

2 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Withdrawals

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.

Paid cash for rent

3 of 16

Equipment

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Withdrawals

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.

Bought supplies on account

4 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.

Paid cash for supplies

5 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Paid cash for rent

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. The place an + or - on the debit or credit side.

6 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Bought supplies on account

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an + or - on the debit or credit side.

7 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Paid cash for electric bill.

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. The place a + or - on the debit or credit side.

8 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Paid cash on account.

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an + or - on the debit or credit side.

9 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Paid cash on account.

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an + or - on the debit or credit side.

10 of 16

Assets = Liabilities + Owner’s Equity

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Received Cash from Sales

​

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. The place an + or - on the debit or credit side.

11 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Sold services on account.

​

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.

12 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Paid cash for insurance.

​

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.

13 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Paid cash for repairs.

​

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.

14 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Received cash from sales

​

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.

15 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Paid cash to owner for personal use

​

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.

16 of 16

Cash

Equipment

Accounts Receivable

Prepaid Insurance

Supplies

Owner’s Capital

Accounts Payable

Owner’s Drawing

Sales

Expenses

Assets = Liabilities + Owner’s Equity

Received cash on account.

​

Which two accounts are affected? Place their names on a T-account on the correct side of the equation. Then place an X on the debit or credit side.