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Enter the question #Use the validation to enter the account typeUse the validation to enter the accountEnter the DebitEnter the Credit
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#QuestionsQuestion #
Account Classification
AccountDebitCredit
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Enter Deposit for original investment of $10,000
Cash -
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Purchase Inventory for $2000
Accounts Receivable -
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Buy Computer for $1000
Allowance for Doubtful Accounts -
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Record Revenue of $4,000 and Direct Materials for $1,500, Revenue is not yet collected
Prepaids -
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Record a loan for $10,000 with $2,000 being current
Inventory -
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Collect the outstanding Accounts Receivable of $4,000
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Sell the remaining inventory for $1,500, cash is collected immediately
Total Current Assets -
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Pay direct labor of $5,000 and payroll taxes of $500
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Make Payment on the loan for $1000 and interest expense of $100
Office Equipment -
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Record depreciation on the computer for $10
Furniture -
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Purchase inventory of $8000 with the bill being unpaid
Machinery -
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Sell the remaining intentory for for $16,000
Accumulated Depreciation -
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Pay wages of $2000 and payroll taxes of $200
Goodwill -
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Pay for the inventory bill in accounts payable
Customer Relationships -
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Pay owner draw of $4,000
Accumulated Amortization -
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Total Non Current Assets -
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Total Assets -
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Accounts Payable -
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Credit Card Payable -
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Line of Credit -
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Current Portion - Note Payable -
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Total Current Liabilities -
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Non-Current Portion - Note Payable -
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Total Non-Current Assets -
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Total Liabilities -
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Member Equity -
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Member Draws -
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Net Income -
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Total Equity -
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Total Equity and Liabilities -
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(Assets = Liabiliites & Equity Success
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Revenue -
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Direct Labor -
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Direct Labor Payroll Taxes -
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Direct Materials -
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Advertising -
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Depreciation -
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Insurance -
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Rent -
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Utilities -
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Interest Expense -
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Wages -
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Payroll Taxes -
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Income Taxes -
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Net Income -
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