Homework Answers
Answer 12.
| Assets | = | Liabilities | + | Common Stock | - | Dividends | + | Revenues | - | Expenses | ||||||
| DR | CR | DR | CR | DR | CR | DR | CR | DR | CR | DR | CR | |||||
| Inc. | Dec. | Dec. | Inc. | Dec. | Inc. | Inc. | Dec. | Dec. | Inc. | Inc. | Dec. |
Answer 13.
| Account type | Normal Balance |
| Asset | Debit |
| Expenses | Debit |
| Dividends | Debit |
| Liabilities | Credit |
| Revenues | Credit |
| Common Stock | Credit |
Answer 4.
| No. | Date | Journal | Debit | Credit |
| A | April 1 | Cash | 15,000 | |
| Common Stock | 15,000 | |||
| (To record issue of common stock) | ||||
| B | April 8 | Supplies | 1,800 | |
| Accounts Payable | 1,800 | |||
| (To record purchase of supplies) | ||||
| C | April 20 | Accounts Receivable | 950 | |
| Service Revenue | 950 | |||
| (To record billed for service revenue) | ||||
| D | April 25 | Salaries Expense | 2,000 | |
| Cash | 2,000 | |||
| (To record payment made to employees) | ||||
| E | April | Dividends | 500 | |
| Cash | 500 | |||
| (To record dividends paid to shareholders) |
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12. Fill in the expanded accounting equation with Debit (DR), Credit (CR), and Increase (Inc.) and...
b) Fill in the expanded accounting equation with Debit (DR), Credit (CR), and Increase (Inc.) and...
b) Fill in the expanded accounting equation with Debit (DR), Credit (CR), and Increase (Inc.) and Decrease (Dec.). = Liabilities Assets Equity Contributed Capital Retained Earnings Common = Liabilities Assets (d) Dividends Stock Revenues Expenses c) Fill in the normal balance of the account Account type Asset Expenses Dividends Liabilities Normal Balance Debit Revenues Common Stock d) Determining the balance in the following T-account Cash 25,000 1,000 2,000 3,000
1.2.3.4.5. Drag the account types to form the expanded accounting equation. Begin the equity section with...
1.2.3.4.5.
Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, '", equity. Common Stock : Assets : Cash : Dividends : Accounts Receivable Accounts Payable Revenues Liabilities: Expenses Unearned Revenues Enter the missing value to balance the equation. = 17,000 + 36,000 – 10,000 + 16,000 – 37,000 61,000 = + 40,000 – 32,000 + 10,000 – 2,000 68,000 =...
Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed...
Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, equity. Common Stock Cash Dividends Accounts Receivable Accounts Payable Revenues Expenses Unearned Revenues Assets Liabilities Drag Card her Draard herd De card her Drag and her Drag card her Draard here
B2-NORMAL BALANCE (9 points) Fill in the normal balance for each type of account. Credit Debit Type of Account Asse...
B2-NORMAL BALANCE (9 points) Fill in the normal balance for each type of account. Credit Debit Type of Account Assets Liabilities Contra-asset Share capital Retained earnings Dividends Revenues Expenses Gain R2
Which of the following correctly identifies normal balances of accounts? Assets Debit Credit Credit Liabilities Common...
Which of the following correctly identifies normal balances of accounts? Assets Debit Credit Credit Liabilities Common Stock Revenues Expenses Credit Credit Debit Assets Liabilities Common Stock Revenues Expenses Credit Credit Credit Debit Assets Credit Debit Debit Liabilities Common Stock Revenues Expenses Credit Debit Debit Credit Assets Liabilities Common Stock Revenues Expenses Credit Debit Credit
16. Using the expanded accounting equation, solve for the missing amount. Assets $72,540 Liabilities 2,560 Common...
16. Using the expanded accounting equation, solve for the missing amount. Assets $72,540 Liabilities 2,560 Common Stock ? Dividends 16,750 Revenues 59,320 Expenses 29,350
On the trial balance, which account balances should be listed in the debit column? A. Liabilities,...
On the trial balance, which account balances should be listed in the debit column? A. Liabilities, Revenues, and Common Stock O B. Liabilities, Revenues, and Dividends O C. Assets, Dividends, and Expenses OD. Assets, Revenues, and Dividends
the expanded accounting equation, activity 3.a - classify the accounts The Expanded Accounting Equation Activity 3.a...
the expanded accounting equation, activity 3.a - classify the
accounts
The Expanded Accounting Equation Activity 3.a - Classify the Accounts Classify which part of the expanded accounting equation each account title belongs to by dragging the account into the correct bucket. View drag and drop keyboard instructions Equipment Common Stock Dividends Insurance Expense Utilities Payable Service Revenue Building Rent Expense Utilities Expense Notes Payable Office Supplies Accounts Payable Delivery Expense Advertising Expense Supplies Expense Truck Cash Salaries Payable ASSETS LIABILITIES...
drag the account type to form the expanded accounting equa Drag the account types to form...
drag the account type to form the expanded accounting
equa
Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, +', or decreases, -', equity. Beginning Retained Accounts Payable Accounts Receivable Revenues Expenses Cash Earnings Contributed Capital Dividends Declared Unearned Revenues Assets = Liabilities Drag card herd Drag card here Drag card here Drag card here Drag card here
Build a T-account for each account title. Label the DR (debit), CR (credit), NB (normal balance),...
Build a T-account for each account title. Label the DR (debit), CR (credit), NB (normal balance), and "+" or "-". Debit Credit Normal Balance Long-term Investments Common Stock Dividends + - - + - Det Credit Normal Balance Normal Balance Credit Pension Expense Legal Fees Payable Service Revenue + - +
b) Fill in the expanded accounting equation with Debit (DR), Credit (CR), and Increase (Inc.) and Decrease (Dec.). = Liabilities Assets Equity Contributed Capital Retained Earnings Common = Liabilities Assets (d) Dividends Stock Revenues Expenses c) Fill in the normal balance of the account Account type Asset Expenses Dividends Liabilities Normal Balance Debit Revenues Common Stock d) Determining the balance in the following T-account Cash 25,000 1,000 2,000 3,000
1.2.3.4.5.
Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, '", equity. Common Stock : Assets : Cash : Dividends : Accounts Receivable Accounts Payable Revenues Liabilities: Expenses Unearned Revenues Enter the missing value to balance the equation. = 17,000 + 36,000 – 10,000 + 16,000 – 37,000 61,000 = + 40,000 – 32,000 + 10,000 – 2,000 68,000 =...
Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, '+', or decreases, equity. Common Stock Cash Dividends Accounts Receivable Accounts Payable Revenues Expenses Unearned Revenues Assets Liabilities Drag Card her Draard herd De card her Drag and her Drag card her Draard here
B2-NORMAL BALANCE (9 points) Fill in the normal balance for each type of account. Credit Debit Type of Account Assets Liabilities Contra-asset Share capital Retained earnings Dividends Revenues Expenses Gain R2
Which of the following correctly identifies normal balances of accounts? Assets Debit Credit Credit Liabilities Common Stock Revenues Expenses Credit Credit Debit Assets Liabilities Common Stock Revenues Expenses Credit Credit Credit Debit Assets Credit Debit Debit Liabilities Common Stock Revenues Expenses Credit Debit Debit Credit Assets Liabilities Common Stock Revenues Expenses Credit Debit Credit
On the trial balance, which account balances should be listed in the debit column? A. Liabilities, Revenues, and Common Stock O B. Liabilities, Revenues, and Dividends O C. Assets, Dividends, and Expenses OD. Assets, Revenues, and Dividends
the expanded accounting equation, activity 3.a - classify the
accounts
The Expanded Accounting Equation Activity 3.a - Classify the Accounts Classify which part of the expanded accounting equation each account title belongs to by dragging the account into the correct bucket. View drag and drop keyboard instructions Equipment Common Stock Dividends Insurance Expense Utilities Payable Service Revenue Building Rent Expense Utilities Expense Notes Payable Office Supplies Accounts Payable Delivery Expense Advertising Expense Supplies Expense Truck Cash Salaries Payable ASSETS LIABILITIES...
drag the account type to form the expanded accounting
equa
Drag the account types to form the expanded accounting equation. Begin the equity section with Contributed Capital + Retained Earnings. Then, identify whether the item increases, +', or decreases, -', equity. Beginning Retained Accounts Payable Accounts Receivable Revenues Expenses Cash Earnings Contributed Capital Dividends Declared Unearned Revenues Assets = Liabilities Drag card herd Drag card here Drag card here Drag card here Drag card here
Build a T-account for each account title. Label the DR (debit), CR (credit), NB (normal balance), and "+" or "-". Debit Credit Normal Balance Long-term Investments Common Stock Dividends + - - + - Det Credit Normal Balance Normal Balance Credit Pension Expense Legal Fees Payable Service Revenue + - +
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