Homework Help: Accounting

Posted by Jenna on Tuesday, August 24, 2010 at 8:48pm.

Please check my answers.

Identify each of the following as either assets, liabilities, or owner's equity.
1. Petty cash- Owner's Equity
2. Mortgage payable- Liabilities
3. Furniture- Assets
4. Owner's Capital- Owner's Equity
5. Food inventory- Assets
6. Profit- Owner's Equity

Accounting - Ms. Sue, Tuesday, August 24, 2010 at 8:51pm
I disagree with your answers for 1 and 6.

http://www.investorwords.com/3566/owners_equity.html

Answer this Question

Related Questions

accounting 205 - A proprietor makes a cash withdrawal from the proprietorship. ...
accounting - Presented below are three business transactions. For each ...
Accounting Math - Can anyone please show me the calculation for these problems: ...
finance and accounting - Account Word Problems like this I seem not to get the ...
HELP ME PLEASE - how will the fundemantal accounting equtation (assets=...
accounting - I am taking beginning Accounting. I have learning disabilities, so ...
Introduction to Accounting - The proprietors of two businesses, L.L. Sams ...
Accounting - Show the effect of each transaction on the individual accounts of ...
acc 100 - Jan Nab is the sole owner of Deer Park, a public camping ground near ...
accountingI - how will the fundemantal accounting equtation (assets=liabilities+...

For Further Reading

First Name:
School Subject:
Answer: