Homework Answers
Account recievable - Debit
Account payable - Credit
Insurance expense -Debit
Unearned revenue - Credit
Service revenue - Credit
Retained earnings - Credit
Cash - Debit
Dividends - Debit
Account recievable and cash are assets (All assets has normal debit balance, when asset increases debit side increases )
Account payable, Unearned revenue and Retained earnings are Liablities ( All liablities has normal credit balance, when liablity increases credit side increases )
Insurance expense is an expense ( All expenses has normal debit balance, when expense increases debit side increases )
Service revenue is a revenue ( All revenue has normal credit balance, when revenue increases credit side increases )
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32-39
For each of the following accounts, indicate whether each is increased by (has a "normal"...
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....
I need help with 34-39 Use the following to answer questions 34 - 36 The year-end...
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
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 Unearned Revenue b. Unearned Store Sales c. Accounts Payable d. Taxes Payable e. Common Stock f. Buildings 9. Consulting Revenue h. Factory Service Fees Earned Haircutting Revenue Service Revenue 1. Interest Revenue 1 < Prev 34 of 63 !!! Next >
View Policies Current Attempt in Progress For each of the following accounts, indicate the effect of...
View Policies Current Attempt in Progress For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Debit Effect Credit Effect Normal Balance Accounts Payable. a. b. < > < > < d. Advertising Expense. Service Revenue. Accounts Receivable. Retained Earnings. Dividends. < e. f. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer View Policies Current Attempt in Progress For each of the following...
For the following accounts please indicate whether the normal balance is a debit or a credit....
For the following accounts please indicate whether the normal balance is a debit or a credit. Sales Dividends Office Supplies Retained Earnings Accounts Receivable Prepaid Rent Prepaid Insurance Wages Payable Building Wages Expense
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
a normal BE2.3 (LO 1) K For each the following accounts, indicate (a) if the account...
a normal BE2.3 (LO 1) K For each the following accounts, indicate (a) if the account is an asset, liability, or own- er's equity account; and (b) whether the account would have a normal debit or credit balance. 1. Accounts Receivable 2. Rent Expense 3. B. Damji, Drawings 4. Supplies 5. Unearned Revenue 6. Service Revenue 7. Prepaid Insurance 8. Notes Payable
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the...
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense $300,000 650,000 325,000 25,000 10,000 150,000 Rent expense Interest expense Dividends Prepare the closing entries. 34. $___ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. S_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be debited? 36....
ERIES A connect All applicable Problems in Series A are available in Connect. Debit Problem 3-25A...
ERIES A connect All applicable Problems in Series A are available in Connect. Debit Problem 3-25A Identifying debit and credit balances Required Indicate whether each of the following accounts normally has a debit or credit balance: a. Interest Receivable h. Consulting Revenue 0. Dividends b. Interest Revenue i. Utilities Payable c. Prepaid Insurance j. Supplies q. Insurance Expense d. Land k. Service Revenue r. Accounts Receivable e. Salaries Payable 1. Accounts Payable s. Utilities Expense f. Salaries Expense m. Operating...
Current Attempt in Progress For each of the following accounts, indicate the effect of a debit...
Current Attempt in Progress For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Debit Effect Credit Effect Normal Balance a. Accounts Payable. b. Advertising Expense. Service Revenue. c. 2 d. Accounts Receivable. e. Retained Earnings f. Dividends. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
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....
I need help with 34-39
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense Rent expense Interest expense Dividends $300,000 450,000 250,000 20,000 5,000 75,000 Prepare the closing entries. 34. $_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. $ In preparing the closing entries for the temporary accounts, how much should...
Indicate whether a debit or credit decreases the normal balance of each of the following accounts Decrease Normal Balance Unearned Revenue b. Unearned Store Sales c. Accounts Payable d. Taxes Payable e. Common Stock f. Buildings 9. Consulting Revenue h. Factory Service Fees Earned Haircutting Revenue Service Revenue 1. Interest Revenue 1 < Prev 34 of 63 !!! Next >
View Policies Current Attempt in Progress For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Debit Effect Credit Effect Normal Balance Accounts Payable. a. b. < > < > < d. Advertising Expense. Service Revenue. Accounts Receivable. Retained Earnings. Dividends. < e. f. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer View Policies Current Attempt in Progress For each of the following...
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
a normal BE2.3 (LO 1) K For each the following accounts, indicate (a) if the account is an asset, liability, or own- er's equity account; and (b) whether the account would have a normal debit or credit balance. 1. Accounts Receivable 2. Rent Expense 3. B. Damji, Drawings 4. Supplies 5. Unearned Revenue 6. Service Revenue 7. Prepaid Insurance 8. Notes Payable
Use the following to answer questions 34 - 36 The year-end adjusted trial balance of the Corporation included the following account balances: Retained earnings Service revenue Salaries expense $300,000 650,000 325,000 25,000 10,000 150,000 Rent expense Interest expense Dividends Prepare the closing entries. 34. $___ In preparing the closing entries for the temporary accounts, how much should Retained earnings be credited? 35. S_ In preparing the closing entries for the temporary accounts, how much should Retained earnings be debited? 36....
ERIES A connect All applicable Problems in Series A are available in Connect. Debit Problem 3-25A Identifying debit and credit balances Required Indicate whether each of the following accounts normally has a debit or credit balance: a. Interest Receivable h. Consulting Revenue 0. Dividends b. Interest Revenue i. Utilities Payable c. Prepaid Insurance j. Supplies q. Insurance Expense d. Land k. Service Revenue r. Accounts Receivable e. Salaries Payable 1. Accounts Payable s. Utilities Expense f. Salaries Expense m. Operating...
Current Attempt in Progress For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Debit Effect Credit Effect Normal Balance a. Accounts Payable. b. Advertising Expense. Service Revenue. c. 2 d. Accounts Receivable. e. Retained Earnings f. Dividends. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer
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