Homework Answers
Ans A prepaid Rent
Prepaid expenses are future expenses that have been paid in advance. In other words, prepaid expenses are costs that have been paid but are not yet used up or have not yet expired. ... As the amount expires, the current asset is reduced and the amount of the reduction is reported as an expense on the income statement.
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QUESTION 14 0.5 points Saved Which of the following accounts increases with a debit? A) Prepaid...
Which of the following accounts increases with a debit? O A. Common Stock OB. Accounts Payable...
Which of the following accounts increases with a debit? O A. Common Stock OB. Accounts Payable O C. Interest Payable O D. Prepaid Rent
QUESTION 16 0.5 points Saved Which of the following statements is true of the owner, Capital...
QUESTION 16 0.5 points Saved Which of the following statements is true of the owner, Capital account? A) It is an equity account that has a normal credit balance. OB) It is a liability account that has a normal credit balance. O ) It is a liability account that has a normal debit balance. D) It is an equity account that has a normal debit balance
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 Fees Eamed (Revenues) b. Office Supplies c Owner, Withdrawals d. Wages Expense e. Accounts Receivable E Prepaid Rent 9. Wages Payable h. Building Owner. Capital Debit Credit
QUESTION 10 0.5 points Saved category of the accounting equation. Owner, Capital is a separate account...
QUESTION 10 0.5 points Saved category of the accounting equation. Owner, Capital is a separate account in the OA) equity OB) asset OC) liability OD) revenue
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
mework 5: Ch20 Saved Indicate whether a debit will increase (1) or decrease (D) each of...
mework 5: Ch20 Saved Indicate whether a debit will increase (1) or decrease (D) each of the following accounts listed in items 1 through 15. Increase (I) or Decrease (D) Account 2. 0.58 points 3. eBook References 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 of the following accounts is an owner's equity account? Cash Accounts Payable Prepaid Insurance Ross...
Which of the following accounts is an owner's equity account? Cash Accounts Payable Prepaid Insurance Ross Morris, Capital 2. The gross increases in owner's equity attributable to business activities are called a. assets b. liabilities c. revenues d. expenses 3. The debit side of an account a. depends on whether the account is an asset, liability, or owner's equity b. can be either side of the account depending on how the accountant set up the system c. is the right...
E2-12 Identifying accounts, increases in accounts, and normal balances
E2-12 Identifying accounts, increases in accounts, and normal balances a. Interest Revenue f. Unearned Revenue b. Accounts Payable g. Prepaid Rent c. Calhoun, Capital h. Utilities Expense d. Office Supplies i. Calhoun, Withdrawals e. Advertising Expense j. Service Revenue Requirements 1. Identify each account as asset (A), liability (L), or equity (E). 2. Identify whether the account is increased with a debit (DR) or credit (CR). 3. Identify whether the normal balance is a debit (DR) or credit (CR).
0.5/1 pts Partial Question 52 Indicate which of the following accounts is increased by a debit: Selling, General and Administrative Expense Accumulated Depreciation Cash Dividends Payable 0.33/1 pts...
0.5/1 pts Partial Question 52 Indicate which of the following accounts is increased by a debit: Selling, General and Administrative Expense Accumulated Depreciation Cash Dividends Payable 0.33/1 pts Partial Question 53 Indicate which of the following accounts is increased by a debit: Interest Expense Short-term Investments Accrued Expenses Accounts Receivable
0.5/1 pts Partial Question 52 Indicate which of the following accounts is increased by a debit: Selling, General and Administrative Expense Accumulated Depreciation Cash Dividends Payable 0.33/1 pts Partial Question...
« Question 16 of 50 > >> Question 16 2 points Saved Which of the following...
« Question 16 of 50 > >> Question 16 2 points Saved Which of the following accounts would not appear in a closing entry? Interest expense Accumulated depreciation Cost of goods sold Dividends Both B and D
Which of the following accounts increases with a debit? O A. Common Stock OB. Accounts Payable O C. Interest Payable O D. Prepaid Rent
QUESTION 16 0.5 points Saved Which of the following statements is true of the owner, Capital account? A) It is an equity account that has a normal credit balance. OB) It is a liability account that has a normal credit balance. O ) It is a liability account that has a normal debit balance. D) It is an equity account that has a normal debit balance
Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance Fees Eamed (Revenues) b. Office Supplies c Owner, Withdrawals d. Wages Expense e. Accounts Receivable E Prepaid Rent 9. Wages Payable h. Building Owner. Capital Debit Credit
QUESTION 10 0.5 points Saved category of the accounting equation. Owner, Capital is a separate account in the OA) equity OB) asset OC) liability OD) revenue
Which of the following accounts has a normal debit balance? O Accounts Payable O Prepaid Rent O Retained Earnings O Common Stock
mework 5: Ch20 Saved Indicate whether a debit will increase (1) or decrease (D) each of the following accounts listed in items 1 through 15. Increase (I) or Decrease (D) Account 2. 0.58 points 3. eBook References 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
0.5/1 pts Partial Question 52 Indicate which of the following accounts is increased by a debit: Selling, General and Administrative Expense Accumulated Depreciation Cash Dividends Payable 0.33/1 pts Partial Question 53 Indicate which of the following accounts is increased by a debit: Interest Expense Short-term Investments Accrued Expenses Accounts Receivable
0.5/1 pts Partial Question 52 Indicate which of the following accounts is increased by a debit: Selling, General and Administrative Expense Accumulated Depreciation Cash Dividends Payable 0.33/1 pts Partial Question...
« Question 16 of 50 > >> Question 16 2 points Saved Which of the following accounts would not appear in a closing entry? Interest expense Accumulated depreciation Cost of goods sold Dividends Both B and D
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