Question 14 Which of the following accounts does not have a normal credit balance? O Share...
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Revenue account
Generally revenue account don't have a credit balance because the revenue earned during the year is transfer to Income statement.
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Question 14 Which of the following accounts does not have a normal credit balance? O Share...
Which of the following groups of accounts have a normal credit balance? O A. Assets, capital,...
Which of the following groups of accounts have a normal credit balance? O A. Assets, capital, and withdrawals O B. Liabilities, expenses, and assets O C. Assets, expenses, and withdrawals OD. Revenue, liabilities, and capital Click to select your answer. Type here to search Which of the following groups of accounts have a normal debit balance? O A. Liabilities, Expenses, and Assets OB. Revenue, Liabilities, and Expense OC. Assets, Expenses, and Withdrawals OD. Assets, Capital, and Withdrawals Click to select...
question 12.13 Question 12 (1 point) The normal balance of wages payable is a because it...
question 12.13
Question 12 (1 point) The normal balance of wages payable is a because it is a(n) account. credit, revenue credit, liability credit, asset credit, owner's equity Question 13 (1 point) Saved A credit is NOT the normal balance for which account listed below Revenue Capital Drawings Liability
7. A credit is not the normal balance for which account listed below? a. Common Stock...
7. A credit is not the normal balance for which account listed below? a. Common Stock account b. Revenue account c. Liability account d. Dividends account A) 8. Purrfect Pets, Inc. makes a $10,000 payment on account. This would result in a: $10,000 credit to Cash and a $10,000 credit to Accounts Payable. $10,000 debit to Cash and a $10,000 debit to Accounts Payable. $10,000 debit to Accounts Payable and a $10,000 credit to Cash. $10,000 debit to Cash and...
Which of the following accounts has a normal credit balance? Notes Payable. Accounts Receivable. Dividends. Equipment.
Which of the following accounts has a normal credit balance? Notes Payable. Accounts Receivable. Dividends. Equipment.
Identify the statement below that is incorrect Multiple Choice o The normal balance of accounts receivable...
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
QUESTION 1 4 pa Determine whether the normal balance of each account is a debit or...
QUESTION 1 4 pa Determine whether the normal balance of each account is a debit or credit balance - Dividends - Revenues 1. Debit - Deferred/Unearned revenue 2. Credit - Accounts payable - Expenses QUESTION 2 1.5 pc When a company performs a service but does not receive cash at the time of service, revenue is credited, tell me which account will be debited? O cash accounts payable o accounts receivable dividends QUESTION 3 On January 8, Nickel Corporation purchased...
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...
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
Chapter 2-Recording Business Transactions 11. What type of account is cash? A. Asset B. Liability C....
Chapter 2-Recording Business Transactions 11. What type of account is cash? A. Asset B. Liability C. Equity--Capital D. Equity--Revenue E. Equity--Expense 12. Which of the following accounts does NOT have a normal balance? A. Cash--Balance 1,000 credit B. Bright, Withdrawals--Balance 1,000 debit C. Accounts payable--Balance 1,000 credit D. Rent expense--Balance 1,000 debit E. Prepaid Rent--Balance 1,000 debit 13. Which of the following account names is a liability account? A. Cash B. Unearned Revenue C. Accounts Receivable D. Furniture E. Prepaid...
Normal Balances of Accounts Identify each of the following accounts of Liken Services Co. as asset,...
Normal Balances of Accounts Identify each of the following accounts of Liken Services Co. as asset, liability, stockholders' equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit. Item Type of Account Debit or Credit a. Accounts Payable b. Accounts Receivable c. Cash d. Common Stock e. Dividends f. Fees Earned 9. Land h. Rent Expense i. Supplies 3. Utilities Expense
Which of the following groups of accounts have a normal credit balance? O A. Assets, capital, and withdrawals O B. Liabilities, expenses, and assets O C. Assets, expenses, and withdrawals OD. Revenue, liabilities, and capital Click to select your answer. Type here to search Which of the following groups of accounts have a normal debit balance? O A. Liabilities, Expenses, and Assets OB. Revenue, Liabilities, and Expense OC. Assets, Expenses, and Withdrawals OD. Assets, Capital, and Withdrawals Click to select...
question 12.13
Question 12 (1 point) The normal balance of wages payable is a because it is a(n) account. credit, revenue credit, liability credit, asset credit, owner's equity Question 13 (1 point) Saved A credit is NOT the normal balance for which account listed below Revenue Capital Drawings Liability
7. A credit is not the normal balance for which account listed below? a. Common Stock account b. Revenue account c. Liability account d. Dividends account A) 8. Purrfect Pets, Inc. makes a $10,000 payment on account. This would result in a: $10,000 credit to Cash and a $10,000 credit to Accounts Payable. $10,000 debit to Cash and a $10,000 debit to Accounts Payable. $10,000 debit to Accounts Payable and a $10,000 credit to Cash. $10,000 debit to Cash and...
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
QUESTION 1 4 pa Determine whether the normal balance of each account is a debit or credit balance - Dividends - Revenues 1. Debit - Deferred/Unearned revenue 2. Credit - Accounts payable - Expenses QUESTION 2 1.5 pc When a company performs a service but does not receive cash at the time of service, revenue is credited, tell me which account will be debited? O cash accounts payable o accounts receivable dividends QUESTION 3 On January 8, Nickel Corporation purchased...
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...
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
Chapter 2-Recording Business Transactions 11. What type of account is cash? A. Asset B. Liability C. Equity--Capital D. Equity--Revenue E. Equity--Expense 12. Which of the following accounts does NOT have a normal balance? A. Cash--Balance 1,000 credit B. Bright, Withdrawals--Balance 1,000 debit C. Accounts payable--Balance 1,000 credit D. Rent expense--Balance 1,000 debit E. Prepaid Rent--Balance 1,000 debit 13. Which of the following account names is a liability account? A. Cash B. Unearned Revenue C. Accounts Receivable D. Furniture E. Prepaid...
Normal Balances of Accounts Identify each of the following accounts of Liken Services Co. as asset, liability, stockholders' equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit. Item Type of Account Debit or Credit a. Accounts Payable b. Accounts Receivable c. Cash d. Common Stock e. Dividends f. Fees Earned 9. Land h. Rent Expense i. Supplies 3. Utilities Expense
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