The following account titles were drawn from the general ledger of Holt Food Supplies, Incorporated (HFS): Computers, Operating Expenses, Rent Revenue, Building, Cash, Notes Payable, Land, Utilities Payabie, Utilities Expense, Trucks, Gasoline Expense, Retained Earnings, Suppiles, Accounts Payable, Office Furniture, Sa aries Expense, Common Stock, Service Revenue, Interest Expense, Dividends, Supplies Expense. Required a. List each account titie under the element of the accounting equation to which it belorngs. Assets Liebilities Stockholders' Equity b. Will all businesses have the same number of accounts?
The following account titles were drawn from the general ledger of Holt Food Supplies, Incorporated (HFS): Computers, Operating Expenses, Rent Revenue, Building, Cash, Notes Payable, Land, Utilities Payabie, Utilities Expense, Trucks, Gasoline Expense, Retained Earnings, Suppiles, Accounts Payable, Office Furniture, Sa aries Expense, Common Stock, Service Revenue, Interest Expense, Dividends, Supplies Expense. Required a. List each account titie under the element of the accounting equation to which it belorngs. Assets Liebilities Stockholders' Equity b. Will all businesses have the same number of accounts?
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter10: Accounting For Sales And Cash Receipts
Section: Chapter Questions
Problem 7SEB: JOURNALIZING SALES RETURNS AND ALLOWANCES Enter the following transactions starting on page 60 of a...
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