Is it possible to post into an asset account and a revenue account?
-Give two examples with debiting and crediting an asset account.
Is it possible to post into an asset account and a revenue account? -Give two examples...
The unearned revenue account is reduced by Select one: a. receiving payments in advance b. debiting the account c. either debiting or crediting the account, depending on circumstances d. crediting the account
Suppose a firm entered into a capital lease (or a right‐of‐use asset), debiting an asset account and crediting a lease liability account for $150,000. Does this transaction need to be disclosed as part of the statement of cash flows? If so, where?
Define Asset, Liabilities and Equity and give two examples of each of these account types. 2. Define Normal Balance, list the 6 types of accounts mentioned in class (AEDLRC), and list the normal balance for each of those 6. 3. Create a sample T Account with several debit and credit amounts and then calculate the balance of the account and explain the balancing process.
Tyler paid $3,700 on account to the company from which equipment was purchased on credit. This transaction would increase assets and increase owner's equity. decrease assets and decrease liabilities. increase assets and increase liabilities. increase one asset and decrease another asset. An example of an expense is withdrawals by the owner. supplies consumed. prepaid insurance. investments. Asset and expense accounts normally have credit balances. large balances. debit balances. negative balances. Accounts that affect owner's equity are expenses, capital, and revenue....
Explain what an asset is and give three examples. Explain what a liability is and give three examples.
what can Price Waterhouse do to increase revenue? Give Two examples? 200 Word each
A credit to an asset account was posted as a credit to a revenue account. This error would cause: Group of answer choices assets to be more than should be. revenue to be more than it should be. expenses to be more than should be. Both A and B are correct.
A credit to an Asset account was posted as a credit to the Revenue account. This error would cause: A.liabilities to be overstated. B.capital to be understated. C.revenue to be overstated. D.Both A and C are correct.
When revenues are earned, Select one: a. the revenue is recorded by increasing an asset account and increasing a revenue account. b. the revenue is recorded by decreasing an asset account and increasing a revenue account. c. the revenue is recorded by increasing an asset account and decreasing a revenue account.
1. what happens when a company accrues salaries at the end of the accounting period. A. Its debt to equity ratio decreases. B. Its current ration increases. C. Its acid-test ratio increases. D. Its debt to equity ratio increases. 2. a sale on account would include which of the following. A. A crediting to an asset account. B. A debiting to a revenue account. C.A crediting to a liability account. D. A debit to an asset account. 3. which of...