Homework Answers
Correct answer is TRUE.
The balance of Shareholder's equity accounts such as Stock, Retained earnings etc. Have a credit balance. But, the dividend has a debit balance. While computing the Shareholders equity, the dividend account's debit balance is deducted and the net figure is taken as balance.
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All shareholders' equity accounts typically have a credit balance except for dividends which are a debit...
what are the correct answers? An accounts receivable represents the promise of the business to pay...
what are the correct answers?
An accounts receivable represents the promise of the business to pay a debt. True False All shareholders' equity accounts typically have a credit balance except for dividends which are a debit. True False
The trial balance lists all the balance sheet accounts first, then all the accounts that affect...
The trial balance lists all the balance sheet accounts first, then all the accounts that affect shareholders' equity. O True False Click to select your answer. MacBook Air
1. Is Accounts Receivable an example of a Asset, Liability, Debit or Credit? 2. Are Dividends...
1. Is Accounts Receivable an example of a Asset, Liability, Debit or Credit? 2. Are Dividends an example of a Asset Account, Liability Account, Equity Account, or Debit Account? 3. Are Notes Payable an example of a Equity Account, Debit Account, Asset Account or Liability Account? 4. True or False: An increase in the Cash balance for a business is entered as a debit to the account. 5. True or False: An increase to the Revenue account of a business...
Which of the statements of the rules of debit and credit is true? O A. Increase...
Which of the statements of the rules of debit and credit is true? O A. Increase Accounts Payable with a credit and the normal balance is a credit OB. Decrease Accounts Receivable with a credit and the normal balance is a credit. OC. Decrease Cash with a debit and the normal balance is a debit. OD. Increase Revenue with a debit and the normal balance is a debit. Click to select your answer. Tyne here to search Which type of...
All of the following accounts have a normal credit balance except:
All of the following accounts have a normal credit balance except:Group of answer choicesPrepaid RentAccounts PayableUnearned RevenueRevenueNotes Payable
1 .Choose all the accounts below that would be INCREASED by a DEBIT entry to the...
1 .Choose all the accounts below that would be INCREASED by a DEBIT entry to the account. Group of answer choices Assets Dividends Capital Contributions Revenues Contra Assets Losses Expenses Liabilities Contra Revenues Retained Earnings Gains 2. Choose all the accounts below that would be DECREASED by a CREDIT entry to the account. Group of answer choices Retained Earnings Assets Equity Expenses Dividends Contra Assets Losses Liabilities 3. Choose all the accounts below that would be DECREASED by a DEBIT...
Which of the accounts are decreased on the debit side and increased on the credit side?...
Which of the accounts are decreased on the debit side and increased on the credit side? Multiple Choice 22 Dividends, liabilities, and assets. O Assets, dividends, and expenses. Expenses, dividends, and stockholders' equity. Liabilities, stockholders' equity, and revenues.
14 Which of the following budgetary accounts typically have a debit balance? A. Apportionments. B. Expended...
14 Which of the following budgetary accounts typically have a debit balance? A. Apportionments. B. Expended Appropriations-paid. C. Expended Appropriations-unpaid. D. Appropriations Realized. 15. When agency directors make allotments, what budgetary accounts are affected? A. Unapportioned Authority and Allotments-Realized Resources. B. Allotments-Realized Resources and Undelivered Orders. C. Appropriations and Allotments Realized Resources. D. Allotments-Realized Resources and Expended Appropriations. 16. Assume that Congress enacted an appropriation for a federal agency in the amount of $500,000. The proprietary entry that would be...
For each of the following accounts, indicate (a) whether it is an asset, liability, or shareholders'...
For each of the following accounts, indicate (a) whether it is an asset, liability, or shareholders' equity account; (b) the normal balance of the account; (c) whether a debit will increase or decrease the account; and (d) whether a credit will increase or decrease the account. (a) (c) (d) (b) Normal Balance Basic Type Debit Effect Credit Effect 1. Accounts Payable Accounts Receivable Liability 2. Asset 3. Cash Asset < 4. Common Shares Shareholders' Equity V 5. Deferred Revenue Liability...
Which account typically carries a credit balance?
Which account typically carries a credit balance? SELECT ONLY ONE Accumulated Depreciation Utilities Expense InventoryAccounts Receivable Cash
what are the correct answers?
An accounts receivable represents the promise of the business to pay a debt. True False All shareholders' equity accounts typically have a credit balance except for dividends which are a debit. True False
The trial balance lists all the balance sheet accounts first, then all the accounts that affect shareholders' equity. O True False Click to select your answer. MacBook Air
Which of the statements of the rules of debit and credit is true? O A. Increase Accounts Payable with a credit and the normal balance is a credit OB. Decrease Accounts Receivable with a credit and the normal balance is a credit. OC. Decrease Cash with a debit and the normal balance is a debit. OD. Increase Revenue with a debit and the normal balance is a debit. Click to select your answer. Tyne here to search Which type of...
Which of the accounts are decreased on the debit side and increased on the credit side? Multiple Choice 22 Dividends, liabilities, and assets. O Assets, dividends, and expenses. Expenses, dividends, and stockholders' equity. Liabilities, stockholders' equity, and revenues.
14 Which of the following budgetary accounts typically have a debit balance? A. Apportionments. B. Expended Appropriations-paid. C. Expended Appropriations-unpaid. D. Appropriations Realized. 15. When agency directors make allotments, what budgetary accounts are affected? A. Unapportioned Authority and Allotments-Realized Resources. B. Allotments-Realized Resources and Undelivered Orders. C. Appropriations and Allotments Realized Resources. D. Allotments-Realized Resources and Expended Appropriations. 16. Assume that Congress enacted an appropriation for a federal agency in the amount of $500,000. The proprietary entry that would be...
For each of the following accounts, indicate (a) whether it is an asset, liability, or shareholders' equity account; (b) the normal balance of the account; (c) whether a debit will increase or decrease the account; and (d) whether a credit will increase or decrease the account. (a) (c) (d) (b) Normal Balance Basic Type Debit Effect Credit Effect 1. Accounts Payable Accounts Receivable Liability 2. Asset 3. Cash Asset < 4. Common Shares Shareholders' Equity V 5. Deferred Revenue Liability...
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