A debit balance in which of the following accounts would indicate a likely error?
A. Supplies
B. Accounts Receivable
C. Notes Payable
D. Salaries Expense
Answer)option c Notes payable Notes payable is a liability and normal balance is credit thereforea debit balance will indicate a error |
A debit balance in which of the following accounts would indicate a likely error? A. Supplies...
Which of the following accounts showing a balance on the post-closing trial balance indicate an error? A. Accumulated Depreciation-office equipment B. Depreciation Expense- office Equipment C. retained earnings D. salaries payable E. office equipment
Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. Cash b. Accounts Receivable c. Note Receivable Prepaid Insurance Prepaid Rent Service Fees Earned Prepaid Parking Supplies Interest Revenue Store Equipment k Office Supplies Salaries Payable
Indicate the normal balance by inserting Debit or Credit.
Normal Balance
1.
Supplies
select a normal balance
DebitCredit
2.
Notes Payable
select a normal balance
CreditDebit
3.
Service Revenue
select a normal balance
CreditDebit
4.
Dividends
select a normal balance
CreditDebit
5.
Accounts Payable
select a normal balance
DebitCredit
6.
Salaries and Wages Expense
select a normal balance
CreditDebit
7.
Common Stock
select a normal balance
DebitCredit
8.
Accounts Receivable
select a normal balance
CreditDebit
9.
Equipment
select a normal...
Indicate whether each of the following accounts has its balance increased with a debit or a credit. Notes Payable Cash Common Stock Prepaid Insurance Dividends Land Service Revenue Choose.. Choose... Choose... * Choose... + debit + Choose...+ Choose... + Choose...+ Accounts Receivable Supplies Expense Choose... + Deferred (or Unearned) RevenueChoose....
Which of the following accounts would likely not be credited to correspond to a debit to Factory Overhead? Question 8 options: Prepaid Insurance. Depreciation Expense. Taxes Payable. Salaries Payabl
Which of the following accounts does NOT have a normal balance? A. Office Supplies--Balance 1,000 debit B. Accounts Payable --Balance 1,000 credit C. Unearned Revenue--Balance 1,000 credit D. Utilities expense--Balance 1,000 debit E. Service Revenue-Balance 1,000 debit
For the following accounts please indicate whether the normal balance is a debit or a credit. Sales Dividends Office Supplies Retained Earnings Accounts Receivable Prepaid Rent Prepaid Insurance Wages Payable Building Wages Expense
Indicate in which financial statement(s) each item would most likely appear, by selecting income statement (1), balance sheet (B), statement of retained earnings (E), or Statement of cash flows (CF) from the drop down provided. Postage expense b. Common stock c. Dividends d. Rent expense e. Note payable f. Supplies expense g. Supplies h. Insurance expense i. Equipment Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. c. e....
Use the following to answer questions 10 – 13 Indicate which of the following accounts should be debited and which should be credited. An example has been provided (ex). Purchase Office Supplies in exchange for cash Debit : N (Supplies) Credit: C (Cash)...see below. Only include the letter of the account not the account name. A. Accounts payable B. Accounts receivable C. Cash D. Common stock E. Dividends F. Equipment G. Notes payable H. Prepaid rent I. Rent expense J....
Trial Balance Errors For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much. If the debit and credit totals would be equal, enter zero ("0") in the amount box. a. The payment of an insurance premium of $2,340 for a three-year policy was debited...