Accouting help?
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8. Chapter 2鈥擜nalyzing Transactions Question MC #12
(Points: 2)
Which of the following types of accounts have a normal credit balance?
1. assets and liabilities
2. liabilities and expenses
3. revenues and liabilities
4. capital stock and dividends
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9. Chapter 2鈥擜nalyzing Transactions Question MC #36
(Points: 2)
Cash was paid by J's Appliance Repair to creditors on account. Which of the following entries for J's records this transaction?
1. Cash, debit; Capital Stock, credit
2. Accounts Payable, debit; Cash, credit
3. Accounts Payable, debit; Account Receivable, credit
4. Accounts Receivable, debit; Cash, credit
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10. Chapter 2鈥擜nalyzing Transactions Question MC #28
(Points: 2)
A debit balance in which of the following accounts would indicate a likely error?
1. Notes Payable
2. Dividends
3. Supplies
4. Salaries Expense
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Accouting help?Qn 1
3. $ 65,000
Qn 2
1. amounts recorded in the financial statements must be based on independently verifiable evidence
Qn 3
3. Accounting provides information to managers to operate the business and to other stakeholders to make decisions regarding the economic condition of the company.
Qn 4
1. assets increase $55,000; stockholders' equity increases $55,000
Qn 5
3. $23,000 increase
Qn 6
2. Purchased equipment, paid cash of $4,000, with the remainder to be paid in payments
Qn 7
2. Dr Equipment 3,000
Cr Accounts Payable 2,250
Cr Cash 750
Qn 8
3. revenues and liabilities
Qn 9
2. Accounts Payable, debit; Cash, credit
Qn 10
1. Notes Payable
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