Question 2 Fill in the blank with the best choice below: Asset, dividend, and expense accounts...
Using the following information, prepare a trial balance. Assume all asset, dividend, and expense accounts have debit balances and all liability, stockholders' equity, and revenue accounts have credit balances. List the accounts in the following order: assets, liabilities, stockholders' equity, dividends, revenues, and expenses. Cash Salaries Payable Prepaid Rent Accounts Payable Retained Earnings Salaries Expense $6,050 600 800 1,950 1,750 2,900 Dividends Rent Expense Accounts Receivable Common Stock Service Revenue Advertising Expense $ 400 1,950 4,300 6,100 7,000 1,000 Trial...
Identify the statement below that is incorrect Multiple Choice o The normal balance of accounts receivable is a debit. o The normal balance of dividends is a debit o The normal balance of unearned revenues is a credit. o The normal balance of an expense account is a credit. o The normal balance of the common stock account is a credit
its fill in the blank are these anwsers correct 24 2212 DD /2 ACCT3310 Homework #1 Name Lacres na Blo DUE: on or before 9:30 a.m. Tuesday, January 28, 2020 For each of the following, fill in the blank with either Increase or Decrease. 1 2 3 A debit A credit A debit A credit A debit A A credit credit to Accounts Payable to Prepaid Expenses to Retained Earnings to Utilities Expense to Dividends to Accounts Receivable to would_0...
EXTRA CREDIT QUESTION (10 POINTS) Complete the template for the expanded accounting equation below: Write in the classification of each T account. 2. Fill in the boxes to indicate whether each T account is added or subtracted. . Use the and -signs to indicate whether the debit or the credit increases () or decreases -) the acco Dr. Cr Dr. Cr Dr. Cr. Dr. Cr. MULTIPLE CHOICE (60 POINTS). Choose the best answer of the options provided. Record your answers...
fill in the blank question Fill in the Blank Question When financial statements are prepared, unexpired prepaid accounts are recorded as (expenses/assets/iabilities) and the expired portion of the prepaid account is reported as ain) (expense/asset liability). Confidence Level Rate your confidence to submit your answer Home
For each of the following, fill in the blank with either Increase or Decrease 1 2 4 A debit Acredit A debit A credit A debit A credit to Accounts Payable to Prepaid Expenses to Retained Earnings to Utilities Expense to Dividends to Accounts Receivable would decrease the account. would decrease the account. would increase the account. would increase the account. would increase the account. would decrease the account. 6 * computer or Using the normal balances for Gus Company...
EX 2-5 Normal entries for accounts During the month, Gates Labs Co. has a substantial number of transactions affecting following accounts. State for each account whether it is likely to have (a) debit entri credit entries only, or (c) both debit and credit entries. 1. Accounts Payable ! 5. Insurance Expense a 2. Accounts Receivable a 6. Dividends 3. Cash a 7. Utilities Expense a 4. Fees Earned Save PQQ- Angela Bums c. $5,000 d. $ 8,000 8. The difference...
Question 3 Fill in the blank with the best choice below: The principle states that assets are initially recorded at the amounts paid or obligated to pay to acquire the assets revenue recognition matching expense cost liability - TH the all I eate thi hành án
QUESTION 4 A capital expenditure results in a debit to: an expense account a contra-asset account a liability account an asset account 1 points QUESTION 5 The journal entry to record the amortisation of an intangible asset would require a debit to an expense account and a credit to: An asset account. A liability account. A contra-asset account. A revenue account.
Question 1 Question 2 Question 3 Question 4 Question 5 Which of the following pairs of accounts could not appear in the same adjusting entry? Salaries Payable and Salaries Expense Interest Income and Interest Expense Fees Earned and Unearned Fees Rent Expense and Prepaid Rent On which financial statement will Income Summary be shown? no financial statement retained earnings statement balance sheet х income statement For the Year Ended December 31 Income Statement Balance Sheet Adjusted Trial Balance Account Title...