When an owner contributes additional money to a business, the equity ....?

For every debit there is a ----------------------------

Loan funds owed to a bank would belong to which account group?

A _______ entry is entered on the left side of an account.

What three sections make up the Balance Sheet?

Which of the following general ledger accounts would NOT generally have a subsidiary ledger?

Wilson & Co. owns land which has cost it $100,000. If a "quick sale" of the land were necessary to generate cash, the Co. feels it would receive only $80,000. The Co. continues to report the asset on the balance sheet at $100,000. Under which of the following concepts is it justified?

Mike is the payee of a $20,000, 180-day, 8% note. On maturity, the note maker fails to pay. How much interest income should Mike receive on the dishonored note?

A payment of cash for the purchases of services should be recorded in the:

What is the primary goal of an Accounts Payable department?

By which of the following formulas should interest on a loan be computed?