Which financial statement is called the financial position

Assignment Help Financial Accounting

Reference no: EM131528108

Question: 1. Identify whether a debit or credit yields the indicated change for each of the following accounts.

a. To increase Store Equipment

b. To increase Land

c. To decrease Cash

d. To increase Utilities Expense

e. To increase Fees Earned

f. To decrease Unearned Revenue

g. To decrease Prepaid Insurance

h. To increase Notes Payable

i. To decrease Accounts Receivable

j. To increase Owner Capital

2. Which financial statement is sometimes called the statement of financial position?

Reference no: EM131528108

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