QUIZ 2 FINANCIAL ACCOUNTING

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Last updated 10:48 PM on 9/14/26
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41 Terms

1
New cards

BS or IS; A, L, OE:

Accounts Payable

Balance sheet, Liability

2
New cards

BS or IS; A, L, OE:

Advanced Payments for Equipment

balance sheet, asset

3
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BS or IS; A, L, OE:

Air Traffic Liability

balances sheet, liability

4
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BS or IS; A, L, OE:

Aircraft Fuel (Expense)

income statement, expense

5
New cards

BS or IS; A, L, OE:

Aircraft Maintenance (Expense)

income statement, expense

6
New cards

BS or IS; A, L, OE:

Aircraft Rent (Expense)

income statement, expense

7
New cards

BS or IS; A, L, OE:

Cargo Revenue

income statement, revenue

8
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BS or IS; A, L, OE:

Cash

balance sheet, asset

9
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BS or IS; A, L, OE:

Contract Carrier Arrangements (Expense)

income statement, expense

10
New cards

BS or IS; A, L, OE:

Flight Equipment

balance sheet, asset

11
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BS or IS; A, L, OE:

Frequent Flyer (Obligations)

balance sheet, liability

12
New cards

BS or IS; A, L, OE:

Fuel Inventory

balance sheet, asset

13
New cards

BS or IS; A, L, OE:

Landing Fees (Expense)

income statement, expense

14
New cards

BS or IS; A, L, OE:

Parts and Supplies Inventories

balance sheet, asset

15
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BS or IS; A, L, OE:

Passenger Commissions (Expense)

income statement, expense

16
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BS or IS; A, L, OE:

Passenger Revenue

income statement, revenue

17
New cards

BS or IS; A, L, OE:

Prepaid Expenses

balance sheet, asset

18
New cards

BS or IS; A, L, OE:

Taxes Payable

balance sheet, liability

19
New cards

Credit/Debit, Increase/Decrease/Normal Balance:

Asset

Increase- debit

Decrease- credit

Normal Balance- debit

20
New cards

Credit/Debit, Increase/Decrease/Normal Balance:

Liability

Increase- credit

Decrease- debit

Normal Balance- credit

21
New cards

Credit/Debit, Increase/Decrease/Normal Balance:

OE- Capital

Increase- credit

Decrease- debit

Normal Balance- credit

22
New cards

Credit/Debit, Increase/Decrease/Normal Balance:

OE- Drawing

Increase- debit

Decrease- credit

Normal Balance- debit

23
New cards

Credit/Debit, Increase/Decrease/Normal Balance:

Revenue

Increase- credit

Decrease- debit

Normal Balance- credit

24
New cards

Credit/Debit, Increase/Decrease/Normal Balance:

Expense

Increase- debit

Decrease- credit

Normal Balance- debit

25
New cards

Entry Type: Credit, Debit, or Both:

Accounts Payable

credit and debit

26
New cards

Entry Type: Credit, Debit, or Both:

Accounts Receivable

credit and debit

27
New cards

Entry Type: Credit, Debit, or Both:

Cash

credit and debit

28
New cards

Entry Type: Credit, Debit, or Both:

Fees Earned

Credit

29
New cards

Entry Type: Credit, Debit, or Both:

Capital

Credit

30
New cards

Entry Type: Credit, Debit, or Both:

Drawing

debit

31
New cards

Entry Type: Credit, Debit, or Both:

Supplies Expenses

debit

32
New cards

Acct. Type and Credit/Debit:

Accounts Payable

liability, credit

33
New cards

Acct. Type and Credit/Debit:

Accounts Receivable

asset, debit

34
New cards

Acct. Type and Credit/Debit:

Cash

asset, debit

35
New cards

Acct. Type and Credit/Debit:

Capital

Owner’s Equity, credit

36
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Acct. Type and Credit/Debit:

Drawing

Owners equity, debit

37
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Acct. Type and Credit/Debit:
Fees earned

revenue, credit

38
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Acct. Type and Credit/Debit:

Land

asset, debit

39
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Acct. Type and Credit/Debit:
Rent expense

expense, debit

40
New cards

Acct. Type and Credit/Debit:

Supplies

asset, debit

41
New cards

Acct. Type and Credit/Debit:

Unearned Revenue

liability, credit