What do the following account types fall under DR or CR and under what part of the accounting equation are they entered? I know Assets are a DR and under Assets of course and Liabilities CR under liabilities and Equity CR under SE. But what about Revenue and Expenses

Q: Accounts receivable is

A: Account  Receivable is classified as an  Correct answer :- A.  An Assets

Q: Which of the following best describes the classification and normal balance of the accounts…

A: Accounts receivable account generally shows the amount to be received from the customers against the…

Q: Which of the following accounts is increased by a debit?A. Common StockB. Accounts PayableC.…

A: Debit and credit are two sides of account in accounting framework. All assets, expenses and…

Q: Which of the following items is not a specific account in acompany’s accounting records?a. Accounts…

A: Accounts receivable is the payment which the company will receive for the goods sold on credit from…

Q: In which of the following types of accounts are increases recorded by credits?   A. revenues and…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: How does expense recognition impact the accounting equation

A: The accounting equation states that assets equal to sum of liabilities and equity.

Q: What relationship exists between the position of an accountin the balance sheet equation and the…

A:

Q: Which of the following accounts normally has a debitbalance?a. Unearned Revenueb. Rent Expensec.…

A: correct option is b.) Rent Expense Generally Assets, expenses, losses, and the owner's drawing…

Q: From othe basic accounting equation Assets = Liabilities + Owners Equity, where does uncollectible…

A: As per accounting equation, assets = Liabilities + owners' equity

Q: What kind of account is Unearned Revenue?a. Liability accountb. Asset accountc. Expense accountd.…

A: The correct option is option “a”. Unearned revenue is not classified as an asset, owners' equity,…

Q: Required: For the following list of accounts select the type of account (Asset,Contra Asset,…

A: The financial statements will accurately reflect the company's financial condition if debits and…

Q: What is an account receivable? O a. Sales O b. Asset O c. Income O d. Creditors

A: Following is the answer to the given question

Q: How does the rule of debit and credit relative to accounting equation?

A: Accounting equation:   It is a mathematical expression that presented all assets of the firm are…

Q: Which of the following normally have a debit balance? Liability accounts Equity or capital accounts…

A: Assets, expenses, losses, and the owner's drawing account will normally have debit balances.Their…

Q: Which one of the following account groups normally has a credit balance? O A. assets and liabilities…

A: 1.Assets - It includes:- Current assets long term investments fixed assets intangible assets  other…

Q: How is the account Accounts Payable classified and what kind of balance should it have? Group of…

A: Accounts payable is the term for current liabilities in regard to purchases made on credit. Such…

Q: (See chart below for the account titles) Identify or classify the different account titles as to…

A: Current assets: It refers to the assets that are used for less than 1 year and can be easily…

Q: Under which of the following categories would Accounts Receivable​ appear?     A. long−term assets…

A: Current assets: Current assets are all those assets that are expected to be sold or used as a result…

Q: what account balances are included in a revenue and collection cyle?

A: Revenue means proceeds or amount that is received from sale of goods and services in the business.…

Q: What are the the main classifications/types of accounts? Income statement accounts Balance sheet…

A: Account means the systematic record of various transactions entered by businesses. Income statement…

Q: Which of the following correctly describes how accounts payable will appear on the financial…

A: Accounts Payable: Accounts Payable are the short-term liabilities that an entity owes to its…

Q: How would accounts payable be reflected in an REA diagram? Why?

A: Liabilities are obligations that an organization owes to its creditors, suppliers, or other parties.…

Q: The type of account with a normal credit balance is: Group of answer choices an asset drawing a…

A:

Q: Which of the given series have the same normal balances in the Accounting Equitation? Select one:…

A: Normal balance is the side of the account where the balance of the account is found. An account can…

Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is