Question 12 4 pts Which of the following is a correct accounting equation? Asset + Expense...
Question #1 ts Which of the following is an asset? npts Rent Expense Common Stock Accounts Payable Cash mpts empts tempts Submit Question 0 of 1 Attempts Used! ttempts Attempts Attempts 1 Attempts 1 Attempts 1 Attempts MacBook Ai Question #2 Which of the following represents earnings taken out by the owners? Supplies Expense Notes Payable Dividends Equipment Submit Question 0 of 1 Attempts Used! Question #3 Which of the following represents an amount owed by the company? Revenue Accounts...
QUESTION 1 How would the accounting equation be effected by a business paying a creditor? O increase liability, increase equity O increase asset, increase liability O decrease asset decrease equity O decrease asset, decrease liability QUESTION 4 Prepaid rent is what type of account? O revenue O liability O expense asset QUESTION 5 Wages Payable is what type of account? O asset O expense liability O revenue
At the end of the accounting period, the balances of which types of accounts are carried over to the next accounting period? revenue, liability, and dividend asset, expense, and dividend O revenue, expense, and dividend asset, liability, and stockholders' equity
Question 12 5 pts The essence of depreciation used in accounting is best reflected by which of the following below? OC. A method of allocating asset cost to an expense account in a manner which closely matches the physical deterioration of the tangible asset involved. O d. An accounting concept that allocates the portion of an asset used up during the year to the contra asset account for the purpose of properly recording the fair market value of tangible assets....
QUESTION 4 A capital expenditure results in a debit to: an expense account a contra-asset account a liability account an asset account 1 points QUESTION 5 The journal entry to record the amortisation of an intangible asset would require a debit to an expense account and a credit to: An asset account. A liability account. A contra-asset account. A revenue account.
State whether each of the following is an asset, liability, equity, revenue, or expense accountingpass.com Solved: Identifying debit and credit balancesRequiredindicat Question #1 Indicate from the drop down menu what type of account the item is. Accounts Receivable Retained Earnings Salary Expense Common Stock Rent Expense Supplies Expense Rent Revenue Dividends Accounts Payable 5 Supplies Cash Submit Question 0 of 5 Attempts Used!
how Question 9 Correct Mark 5 out of 5 lib ASS Prepaid expense and unearned revenue are examples of Select one: a. asset and revenue O b. expense and revenue c. Expense and liability d. Asset and liability O e. asset and expense The correct answer is: Asset and liability
Question 2 Classify each account type (asset, liability, equity, revenue or expense), and identify which financial statement it would be reported on: Account Account Type Financial Statement 1. Land 2. 3. 4. 5. 6. Cost of Goods Sold Prepaid Expenses Common Shares Sales Revenue Long Term Debt Accounts Receivable Salary Expense Accounts Payable Dividends 7. 8. 9. 10.
Which of the following is an asset? OA. Common Stock OB Service Revenue OC. Salary Expense OD. None of the listed accounts is an asset
(1) O (3) O Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (2) O O (Accounts Payable) O (Accounts Receivable) O (Cash) O (Common Stock) O (Rental Revenue) o (Office Furniture) O (Office Supplies) (Rent Expense) Increase asset Increase liability Increase equity Decrease asset Decrease liability O Decrease equity (5) O (4) O O (Common Stock) O (Rental Revenue) O (Accounts Payable) o (Office Furniture) O (Accounts Receivable) O Office Supplies) O (Cash) O (Rent...