Asset AccountsAccountsCashLandReceivableNotesBuildingsAssetReceivableAccountsEquipmentPrepaidAccountsSuppliesWHUTAccountingdepartmentofmanagementschool
McGraw WHUT-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007 Accounting department of management school Land Equipment Buildings Cash Notes Receivable Supplies Prepaid Accounts Accounts Receivable Asset Accounts Asset Accounts
Liability AccountsNotesAccountsPayablePayableLiabilityAccountsAccruedUnearnedLiabilitiesRevenueWHUTAccountingdepartmentofmanagementschool
McGraw WHUT-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007 Accounting department of management school Accrued Liabilities Unearned Revenue Notes Payable Accounts Payable Liability Accounts Liability Accounts
Equity AccountsRetainEquityCapitalearningAccountsExpensesRevenuesWHUTAccountingdepartmentofmanagementschool
McGraw WHUT-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007 Accounting department of management school Equity Accounts Revenues Retain earning Expenses Equity Accounts Capital
T-AccountCashPurchase landsInvestmentbyownerAnaccount balanceisthedifferencebetweenthe increases and decreases inanaccount.WHUTAccountingdepartmentofmanagementschool
McGraw WHUT-Hill/Irwin © The McGraw-Hill Companies, Inc., 2007 Accounting department of management school Investment by owner Purchase lands Cash T-Account An account balance is the difference between the increases and decreases in an account