Please fill in the blanks in the following sentences:Increases in _________ accounts are increases in owner's equity.
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Please fill in the blanks in the following sentences:The _________ for a given period of time _________the total of cash and ___________ from sales for that period.
Please fill in the blanks in the following sentences:Remember that when a sale __________ took place, an asset called ___________________ was increased, and at the same time an ____________________revenue account was increased.
Please fill in the blanks in the following sentences:Expenses have the ___________ effect of revenues, so they __________ owners' equity.
Please fill in the blanks in the following sentences:Just as not all cash_________are revenue, not all cash ______________are expenses.A cash payment to ______________ a liability would not result in an expense.