Homework Answers
| Correct Option D i.e. Prepaid Rent |
| Reason: As per 3 golden rule of accounting, only expense and asset increase with a debit. Out of option given, there is no expense and only one asset is mentioned which is prepaid rent. Common stock is equity and accounts payable and interest payable are liabilities. |
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Which of the following accounts increases with a debit? O A. Common Stock OB. Accounts Payable...
Which of the following accounts has a normal debit balance? O Accounts Payable O Prepaid Rent...
Which of the following accounts has a normal debit balance? O Accounts Payable O Prepaid Rent O Retained Earnings O Common Stock
QUESTION 14 0.5 points Saved Which of the following accounts increases with a debit? A) Prepaid...
QUESTION 14 0.5 points Saved Which of the following accounts increases with a debit? A) Prepaid Rent B) Interest Payable OC) Accounts Payable D) Owner, Capital
13 seconds. Status: Trial Balance wash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock...
13 seconds. Status: Trial Balance wash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense 10000 20000 5000 37000 11000 3000 44000 7000 15000 35000 6000 7000 100000 100000 === ======== == What are the total assets? $35,000 $72,000 $116,000 Click Save and Submit to save and submit. Click Save All A QUESTION 10 I bou ght office supplies on account. How do I record that? a. Office Supplies, debit:...
Coyote Co. paid $8,000 rent in advance. The journal entry would require: O A. debit to...
Coyote Co. paid $8,000 rent in advance. The journal entry would require: O A. debit to Cash, credit to Rent Expense. B. debit to Cash, credit to Prepaid Rent. ° C. debit to Prepaid Rent, credit to Cash. D. debit to Rent Expense, credit to Cash. The columns on a trial balance represent: OA. subtotals and totals. O B. revenues and expenses. O C. debits and credits O D. common stock and dividends The columns on a trial balance represent:...
Which of the following statements is correct? O A. Unearned Revenue is increased with a debit...
Which of the following statements is correct? O A. Unearned Revenue is increased with a debit OB. Rent Expense is increased with a credit. O C. Accounts Payable is increased with a credit. OD. Prepaid Expenses are decreased with a debit.
Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance...
Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Dividends b. Prepaid Rent c. Common Stock d. Prepaid Service Fees e. Utilities Payable f. Prepaid Parking g. Taxes Payable h. Supplies i. Interest Payable
Which of the following accounts increases with a credit? A. Dividends B. Accounts Receivable C. Common...
Which of the following accounts increases with a credit? A. Dividends B. Accounts Receivable C. Common Stock D. Prepaid Expense
A debit would make which of the following accounts increase? Common Stock Inventory Notes Payable Retained...
A debit would make which of the following accounts increase? Common Stock Inventory Notes Payable Retained Earnings Consider the following journal entry: Software 18,000 Cash 7,200 Note Payable 10,800 Which of the following explanations best describes this journal entry? A) The company buys $18,000 of software, pays cash of $7,200, and signs a note for $10,800. B) The company receives $7,200 in cash and $10,800 in notes payable in exchange for selling $18,000 of software. C) The company...
Indicate whether a debit will increase (l) or decrease (D) each of the following accounts listed...
Indicate whether a debit will increase (l) or decrease (D) each of the following accounts listed in items 1 through 15. Increase (1) or Decrease (D) Account Inventory Depreciation expense Accounts payable Prepaid rent Sales revenue Common stock Salaries payable Cost of goods sold Utilities expense Equipment Accounts receivable Utilities payable Rent expense Interest expense Interest revenue
Which ONE of the following is a liability? Capital Stock O Warranty Expense O Equipment o...
Which ONE of the following is a liability? Capital Stock O Warranty Expense O Equipment o Wages Payable Which of the following journal entries represents an increase in equity correctly? A) Cash XXX Common Stock XXX B) Common Stock XXX Cash XXX XXX C) Retained Earnings Accounts Payable D) Retained Earnings XXX XXX Rent Expense XXX E) More than one of the above F) None of the above CA OB Ос OD Ο Ε OF
Which of the following accounts has a normal debit balance? O Accounts Payable O Prepaid Rent O Retained Earnings O Common Stock
QUESTION 14 0.5 points Saved Which of the following accounts increases with a debit? A) Prepaid Rent B) Interest Payable OC) Accounts Payable D) Owner, Capital
13 seconds. Status: Trial Balance wash Accounts Receivable Supplies Land Accounts Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense 10000 20000 5000 37000 11000 3000 44000 7000 15000 35000 6000 7000 100000 100000 === ======== == What are the total assets? $35,000 $72,000 $116,000 Click Save and Submit to save and submit. Click Save All A QUESTION 10 I bou ght office supplies on account. How do I record that? a. Office Supplies, debit:...
Coyote Co. paid $8,000 rent in advance. The journal entry would require: O A. debit to Cash, credit to Rent Expense. B. debit to Cash, credit to Prepaid Rent. ° C. debit to Prepaid Rent, credit to Cash. D. debit to Rent Expense, credit to Cash. The columns on a trial balance represent: OA. subtotals and totals. O B. revenues and expenses. O C. debits and credits O D. common stock and dividends The columns on a trial balance represent:...
Which of the following statements is correct? O A. Unearned Revenue is increased with a debit OB. Rent Expense is increased with a credit. O C. Accounts Payable is increased with a credit. OD. Prepaid Expenses are decreased with a debit.
Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Dividends b. Prepaid Rent c. Common Stock d. Prepaid Service Fees e. Utilities Payable f. Prepaid Parking g. Taxes Payable h. Supplies i. Interest Payable
Indicate whether a debit will increase (l) or decrease (D) each of the following accounts listed in items 1 through 15. Increase (1) or Decrease (D) Account Inventory Depreciation expense Accounts payable Prepaid rent Sales revenue Common stock Salaries payable Cost of goods sold Utilities expense Equipment Accounts receivable Utilities payable Rent expense Interest expense Interest revenue
Which ONE of the following is a liability? Capital Stock O Warranty Expense O Equipment o Wages Payable Which of the following journal entries represents an increase in equity correctly? A) Cash XXX Common Stock XXX B) Common Stock XXX Cash XXX XXX C) Retained Earnings Accounts Payable D) Retained Earnings XXX XXX Rent Expense XXX E) More than one of the above F) None of the above CA OB Ос OD Ο Ε OF
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