a)liability Increase and assets decreases
An expense might 1) reduce a company's assets such as cash, prepaid expense or inventory, 2)Increase the balance in liability account such as accounts payable, or accrued expense etc
Expenses occur when, in the course of providing goods or services: Liabilities. Assets a) increase. Decrease...
If expenses are paid in cash, then liabilities will decrease. assets will increase. assets will decrease. stockholders' equity will increase. Save for Later
Debits O increase both assets and liabilities. decrease both assets and liabilities. decrease assets and increase liabilities. O increase assets and decrease liabilities.
Debits O increase both assets and liabilities. decrease both assets and liabilities. decrease assets and increase liabilities. O increase assets and decrease liabilities.
Purchased office supplies on account. assets increase; liabilities increase assets decrease; liabilities decrease assets increase; owner's equity increase assets increase; owner's equity decrease Indicate the effect of the following transaction on the elements of the accounting equation. Paid creditors, on account assets increase; liabilities increase assets decrease; liabilities decrease assets decrease; liabilities increase assets decrease; owner's equity increase Question 9 3 pts List of the entire group of accounts maintained by a business. general journal chart of accounts T-account accounting...
Performing services on account will increase assets and increase owner’s equity. increase assets and increase liabilities. increase liabilities and increase owner’s equity. increase assets and decrease owner’s equity.
4. Performed services for a customer and billed customer for services rendered $1,000 A. Assets Increase; Assets Decrease B. Liabilities Increase; Equity Decreases C. Assets Increase; Liabilities Increase D. Assets Decrease; Equity Decreases E. None of the above 5.Collected cash from customer billed in transaction (4) directly above A. Assets Increase; Liabilities Increase B. Assets Increase; Equity Increases C. Assets Increase; Assets Decrease D. Liabilities Increase; Equity Decreases E. None of the above 6. Received $2,000 cash from customers for...
Question 5 (2 points) Debits: a) decrease both assets and expenses b) increase both assets and liabilities Oc) increase assets and decrease stockholders' equity O d) decrease both diviplends and liabilites.
Practice Question 18 Debits O decrease assets and increase liabilities. o decrease both assets and liabilities. o increase both assets and liabilities. o increase assets and decrease liabilities.
8. The increases to a company's resources that result when goods or services are provided to customers are called? A) Assets B) Liabilities C) Expenses San D) Revenues E) None of the above 9. What categories of cash flows are presented in a statement of cash flows? A) Operating and non-operating B) Receipts and disbursements C) Financial and non-financial D) Operating, investing, and financing E) None of the above 10. Marvin's Mechanical Repair Shop started the year with total assets...
a. Inflation is: general decrease in the prices of all goods and services. general increase in the output of all goods and services. general increase in the prices of all goods and services. general decrease in the output of all goods and services. b. When inflation occurs: people can buy less with the same amount of money. it becomes easier to find a job. it becomes more difficult to find a job. people can buy more with the same amount...