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  • Classification Presentation

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    Lincoln Kuehn
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    This document categorizes different types of accounts used for classifying financial transactions into assets, liabilities, owners equity, revenue and expenses. Assets are things owned that have value, liabilities are obligations that are owed, and owners equity represents the claim of net assets by the owners. Revenue increases owners equity and is earned from the sale of products or services, while expenses decrease owners equity and are costs incurred through business operations.

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    This document categorizes different types of accounts used for classifying financial transactions into assets, liabilities, owners equity, revenue and expenses. Assets are things owned that have value, liabilities are obligations that are owed, and owners equity represents the claim of net assets by the owners. Revenue increases owners equity and is earned from the sale of products or services, while expenses decrease owners equity and are costs incurred through business operations.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pptx, pdf, or txt
    1 views7 pages

    Classification Presentation

    Uploaded by

    Lincoln Kuehn
    This document categorizes different types of accounts used for classifying financial transactions into assets, liabilities, owners equity, revenue and expenses. Assets are things owned that have value, liabilities are obligations that are owed, and owners equity represents the claim of net assets by the owners. Revenue increases owners equity and is earned from the sale of products or services, while expenses decrease owners equity and are costs incurred through business operations.

    Copyright:

    © All Rights Reserved
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    of 7

    CLASSIFICATIONS

    OF ACCOUNTS
    ASSETS
    Cut the Pictures from Slide 2 that you would consider an Asset and place on this slide. Also
    type the definition of the category.
    LIABILITIES
    Cut the Pictures from Slide 2 that you would consider a Liabilities and place on this slide. Also
    type the definition of the category.
    OWNERS
    Cut the Pictures from Slide 2 that you would consider an Owners Equity and place on this
    slide. Also type the definition of the category.

    EQUITY
    REVENUE
    Cut the Pictures from Slide 2 that you would consider a Revenue and place on this slide. Also
    type the definition of the category.
    EXPENSES
    Cut the Pictures from Slide 2 that you would consider an Expenses and place on this slide. Also
    type the definition of the category.

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