Ganjafarmer420
Jun 4, 2012, 07:46 PM
A: The power bill would be classified under owner’s equity as a revenue account. You would also record an account payable under liabilities.
B: The power bill would be included in expenses in the owner’s equity section. The other account would be cash.
C: The power bill would be classified under expenses in the owner’s equity section, and an account payable would be listed under liabilities.
D: To increase expenses, you would look in assets, and to increase accounts payable, you would look in liabilities.
B: The power bill would be included in expenses in the owner’s equity section. The other account would be cash.
C: The power bill would be classified under expenses in the owner’s equity section, and an account payable would be listed under liabilities.
D: To increase expenses, you would look in assets, and to increase accounts payable, you would look in liabilities.