The Matching Concept Debits Credits Liabilities Assets Owner's Equity Expenses Revenues c3-6
C3 - 6 The Matching Concept Assets Liabilities Owner’s Equity Debits = Credits Expenses Revenues
The Matching Concept Debits Credits Liabilities Assets Owner's Equity Net Income Expenses Revenues c3-7
C3 - 7 The Matching Concept Assets Liabilities Owner’s Equity Debits = Credits Expenses Revenues Net Income
The Matching Concept Debits Credits Liabilities Assets Owner's Equity Net Income Expenses Revenues matchin g Net income is determined by properly matching expenses and revenues c3-8
C3 - 8 The Matching Concept Assets Liabilities Owner’s Equity Debits = Credits Net income is determined by properly matching expenses and revenues. Expenses Revenues Net Income matching
Netsolutions Unadjusted trial balance December 31. 2002 11 Cash 2,065 2 Accounts receivable 2,220 Assets 14 Supplies 2,000 15 Prepaid Insurance 2,400 17 Land 20,000 18 Office Equipment 1,800 c3-9
C3 - 9 NetSolutions Unadjusted Trial Balance December 31, 2002 11 Cash 2,065 12 Accounts Receivable 2,220 14 Supplies 2,000 15 Prepaid Insurance 2,400 17 Land 20,000 18 Office Equipment 1,800 Assets
Netsolutions Unadjusted trial balance December 31. 2002 11 Cash 2.065 12 Accounts Receivable 2.220 14 Supplies 2.000 15 Prepaid Insurance 2400 17 Land 20.000 18 Office Equipment 1,800 Liabilities 21 Accounts Payable 900 23 Unearned Rent 360 c3-10
C3 - 10 NetSolutions Unadjusted Trial Balance December 31, 2002 11 Cash 2,065 12 Accounts Receivable 2,220 14 Supplies 2,000 15 Prepaid Insurance 2,400 17 Land 20,000 18 Office Equipment 1,800 21 Accounts Payable 900 23 Unearned Rent 360 Liabilities