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If prices are payment in cash, climate a. Assets will certainly decrease. B. Liabilities will certainly decrease. C. Stockholders" equity will certainly increase. D. Assets will increase.
When arsenal is made on accounts Receivable, a. Complete assets will certainly decrease. B. Shareholder equity will certainly increase. C. Full assets will continue to be the same. D. Complete assets will certainly increase.
Debits a. To decrease assets and increase liabilities. B. Boost both assets and also liabilities. C. Increase assets and decrease liabilities. D. Decrease both assets and also liabilities.
The regular balance of any type of account is the a. Side which decreases that account. B. Left side. C. Side which rises that account. D. Right side.
The double-entry mechanism requires that each transaction must be tape-recorded a. In at the very least two various accounts. B. In 2 sets the books. C. In a journal and also in a ledger. D. First as a revenue and then as an expense.
A revenue account a. Is increased by debits. B. Has actually a common balance of a debit. C. Is boosted by credits. D. Is reduced by credits.
An accountant has actually debited an asset account because that $1000 and also credited a liability account for $500. What deserve to be done to complete the record of the transaction? a. Debit an additional asset account for $500. B. Credit transaction a various asset account for $500. C. Nothing further must it is in done. D. Debit a stockholders" same account for $500.
Which the the complying with accounts is raised with a credit? a. Supplies cost b. Offers c. Sales Revenue d. Dividends
When a company performs a organization but has actually not yet obtained payment, the a. Makes no entry till cash is received. B. Debits accounts Receivable and also credits company Revenue. C. Debits service Revenue and credits account Payable. D. Debits service Revenue and also credits account Receivable.
A revenue account a. Is boosted with a credit. B. Is lessened with a credit. C. Has actually a common balance that a debit. D. Is enhanced with a debit.
In the first month the operations, the complete of the debit entries to the Cash account amounted to $3000 and the complete of the credit entries come the Cash account price to $1800. The Cash account has a a. $1200 debit balance. B. $1800 credit transaction balance. C. $1800 credit transaction balance. D. $3000 debit balance.
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Which the the following accounts has a typical debit balance? a. Retained earnings b. Common Stock c. Account Payable d. Prepaid Rent
Which that the adhering to journal entries is tape-recorded correctly and also in the straightforward format? a. Salaries and Wages price 550 Advertising expense 950 Cash 1500 b. Salaries and also Wages cost 550 Advertising cost 950 Cash 1600 c. Cash 1500 Salaries and Wages expense 550 Advertising expense 950 d. Salaries and also Wages expense 550 Cash 1500 Advertising cost 950
A journal a. Is a arsenal of the whole group the accounts maintained by a company. B. Provides a chronological record of transactions. C. Should present accounts in alphabet order. D. Contains only asset and liability accounts.
Fundamentals of this firm Finance11th EditionBradford D. Jordan, Randolph W. Westerfield, Stephen A. Ross
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