Homework Answers
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Problem 3 - (worth 5 Points) 3) For each of the following items, indicate whether a...
Indicate whether a debit or credit decreases the normal balance of each of the following accounts....
Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance Credit Debit a. Factory b. Fuel Expense C. Rent Expense d. Rent Payable e. Furniture f. Land g. Equipment h. Common Stock i. Interest Payable j. Delivery Expense k. Postage Expense 1. Buildings Debit Debit Debit
Indicate whether the Debit or Credit is the correct answer for each of the following Decrease...
Indicate whether the Debit or Credit is the correct answer for each of the following Decrease in account receivable. Normal balance of Joe Smith, Capital Normal balance of rent expense Increase in service revenue Increase in Accounts Payable Increase in salary expense Increase in equipment
Home Work II State whether the items are assets, liabilities, Owner's Equity, Revenue or expense accounts....
Home Work II State whether the items are assets, liabilities, Owner's Equity, Revenue or expense accounts. State whether they are income statement or balance sheet accounts, State whether they are permanent or temporary account. What is the normal balance for the following accounts is a debit or credit: a. Cash b. Supplies C. Notes payable d. Land e. Service revenue f. Accounts receivable & Rent expense h. Furniture i. Accounts payable j. Equipment k. Owner's Equity I. Inventory m. Rent...
Indicate whether a debit or credit decreases the normal balance of each of the following accounts....
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
Increases and decreases in various types of accounts are listed below. In each case, indicate by...
Increases and decreases in various types of accounts are listed below. In each case, indicate by "Dr." or "Cr." (a) whether the change in the account would be recorded as a debit or a credit and (b) whether the normal balance of the account is a debit or a credit. (a) (b) Recorded As Normal Balance 1. Increase in Common Stock 2. Increase in Dividends 3. Decrease in Accounts Receivable 4. Increase in Note Payable 5. Increase in Accounts Payable...
Identification of Accounts E6A. I. Indicate whether each of the following accounts is an asset (A),...
Identification of Accounts E6A. I. Indicate whether each of the following accounts is an asset (A), a liability (L), or a LO3 part of owner's equity (OF) a. Building b Salaries Payable e. Cash f. Accounts Payable g Equipment Accounts Receivable d. Owner's Capital 2. Indicate whether each account that follows would be shown on the income state ment (IS), the statement of owner's equity (OE), or the balance sheet (BS). a. Commissions Earned b. Automobile c Utilities Expense e....
can you pls solve S2 exercise and S3 exercise S2-2 Identifying increases and decreases in accounts...
can you pls solve S2 exercise and S3 exercise
S2-2 Identifying increases and decreases in accounts For each account, identify whether the changes would be recorded as a debit (DR) OF credit (CR). a. Increase to Accounts Receivable f. Decrease to Prepaid Rent b. Decrease to Unearned Revenue g. Increase to Proudfoot, Capital c. Decrease to Cash h. Increase to Notes Receivable d. Increase to Interest Expense i. Decrease to Accounts Payable e. Increase to Salaries Payable j. Increase to...
Problem 7 – (worth 10 Points) 7.) The following work sheet is for Tuttle Photography, a...
Problem 7 – (worth 10 Points) 7.) The following work sheet is for Tuttle Photography, a proprietorship. Tuttle Photography Work Sheet For the Year Ended December 31, 2011 Accounts Debit Credit Cash 15,000 Accounts receivable 30,000 Prepaid insurance 7,500 Office supplies 3,200 Land 40,000 Building 160,000 Accumulated depreciation 12,000 Equipment 75,000 Accumulated depreciation 8,500 Accounts payable 12,000 Salaries payable 12,000 Unearned service revenue 25,000 Mortgage payable 100,000 Capital 11,290 Withdrawals 23,000 Service revenue 289,000 Salaries expense 61,000 Depreciation expense 6,150...
Indicate whether each of the following accounts has its balance increased with a debit or a...
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....
Problem 1/15 minutes): Increases and decreases in various types of accounts are listed below. In each...
Problem 1/15 minutes): Increases and decreases in various types of accounts are listed below. In each case, indicate by "Dr." or "Cr." (a) whether the change in the account would be recorded as a debit or a credit and (b) whether the normal balance of the account is a debit or a credit. Please answer Assignment 1 in your assignment workbook. Recorded As Normal Balance (2) (3) (5) (6) (7) (8) (9) (10) Increase in Dennis Demano, Capital Increase in...
Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance Credit Debit a. Factory b. Fuel Expense C. Rent Expense d. Rent Payable e. Furniture f. Land g. Equipment h. Common Stock i. Interest Payable j. Delivery Expense k. Postage Expense 1. Buildings Debit Debit Debit
Home Work II State whether the items are assets, liabilities, Owner's Equity, Revenue or expense accounts. State whether they are income statement or balance sheet accounts, State whether they are permanent or temporary account. What is the normal balance for the following accounts is a debit or credit: a. Cash b. Supplies C. Notes payable d. Land e. Service revenue f. Accounts receivable & Rent expense h. Furniture i. Accounts payable j. Equipment k. Owner's Equity I. Inventory m. Rent...
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
Increases and decreases in various types of accounts are listed below. In each case, indicate by "Dr." or "Cr." (a) whether the change in the account would be recorded as a debit or a credit and (b) whether the normal balance of the account is a debit or a credit. (a) (b) Recorded As Normal Balance 1. Increase in Common Stock 2. Increase in Dividends 3. Decrease in Accounts Receivable 4. Increase in Note Payable 5. Increase in Accounts Payable...
Identification of Accounts E6A. I. Indicate whether each of the following accounts is an asset (A), a liability (L), or a LO3 part of owner's equity (OF) a. Building b Salaries Payable e. Cash f. Accounts Payable g Equipment Accounts Receivable d. Owner's Capital 2. Indicate whether each account that follows would be shown on the income state ment (IS), the statement of owner's equity (OE), or the balance sheet (BS). a. Commissions Earned b. Automobile c Utilities Expense e....
can you pls solve S2 exercise and S3 exercise
S2-2 Identifying increases and decreases in accounts For each account, identify whether the changes would be recorded as a debit (DR) OF credit (CR). a. Increase to Accounts Receivable f. Decrease to Prepaid Rent b. Decrease to Unearned Revenue g. Increase to Proudfoot, Capital c. Decrease to Cash h. Increase to Notes Receivable d. Increase to Interest Expense i. Decrease to Accounts Payable e. Increase to Salaries Payable j. Increase to...
Problem 7 – (worth 10 Points) 7.) The following work sheet is for Tuttle Photography, a proprietorship. Tuttle Photography Work Sheet For the Year Ended December 31, 2011 Accounts Debit Credit Cash 15,000 Accounts receivable 30,000 Prepaid insurance 7,500 Office supplies 3,200 Land 40,000 Building 160,000 Accumulated depreciation 12,000 Equipment 75,000 Accumulated depreciation 8,500 Accounts payable 12,000 Salaries payable 12,000 Unearned service revenue 25,000 Mortgage payable 100,000 Capital 11,290 Withdrawals 23,000 Service revenue 289,000 Salaries expense 61,000 Depreciation expense 6,150...
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....
Problem 1/15 minutes): Increases and decreases in various types of accounts are listed below. In each case, indicate by "Dr." or "Cr." (a) whether the change in the account would be recorded as a debit or a credit and (b) whether the normal balance of the account is a debit or a credit. Please answer Assignment 1 in your assignment workbook. Recorded As Normal Balance (2) (3) (5) (6) (7) (8) (9) (10) Increase in Dennis Demano, Capital Increase in...
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