You are watching: Which group of accounts is comprised of only assets?
The increases in stockholders" same attributable to selling services or commodities to customers is called..
A chart of accounts is...the same as a balance sheetusually a listing of accounts in alphabet orderusually a listing of accounts in financial statement orderused in ar of a ledger
Which that the following is true around a T-account?The left next of a T account is called the debit side,The left next of a T account is called the credit transaction side,The right side the a T account is dubbed the debit side,Transactions are very first recorded in T accounts and also then post in the journal
adding all the debits, including all the credits, and then subtracting the smaller sum from the larger sum
Which team of accounts is written of just assets?Cash, account Payable, BuildingsAccounts Receivable, Revenue CashPrepaid Expenses, Buildings, PatentsUnearned Revenues, Prepaid Expenses, Cash
Of the following, i m sorry is true about assets?Assets include both physical and intangible itemsAssets incorporate only physical itemsAssets space the an individual property the the shareholder of the companyAssets space the an outcome of selling products or solutions to customers
Which that the complying with is not taken into consideration to be a liability?Wages Payable, accounts Receivable, Unearned Revenues, account Payable
Which the the following statements is not true around liabilities?Liabilities are debts owed to outsidersAccount titles of legal responsibility often incorporate the term "payable"cash received prior to a organization is performed creates a liabilityLiabilities include collected depreciation
Expenses can an outcome from...selling stockconsuming servicesusing increase liabilitiespaying creditors on account
Which the the following entries records the acquisition of usual stock by stockholders?debit typical Stock; credit Accounts ReceivableDebit Cash; Credit usual StockDebit dividends; credit CashDebit Fees Earned; Credit typical Stock
Which of the following groups of accounts have actually a common debit balance?revenues, liabilities, and stockholders" equitystockholders" equity and assetsliabilities and stockholders" equityassets and also expenses
A credit transaction may represent a...decrease in assetsdecrease in liabilitiesdecrease in typical stockdecrease in revenue
Which that the following applications of the rules of debit and credit is true?decrease prepaid insurance with a credit and the normal balance is a creditincrease accounts payable with a credit and the normal balance is a debitincrease devices with a debit and the common balance is a debitdecrease cash through a debit and the common balance is a credit
Office provides purchased through Janer"s Cleaning services on account were returned. The office supplies had actually not however been payment for. What entries for Janer"s Cleaning business records this transaction?
Cash to be paid by Janer"s Cleaning service to creditor on account. What entry for Janer"s Cleaning service records this transaction?
What entry records the receipt the cash for 2 months" rent? The cash was received in advance of offering the service.
A customer has a massage and also asks the firm bookkeeper come mail her the bill. What entry have to the bookkeeper make to document the invoice?
Which the the adhering to is no a correct dominion of debits and credits?Assets, expenses, and dividends are raised by debitsAssets are decreased by credits and also have a typical debit balanceLiabilities, revenues, and stockholders" equity are boosted by creditorsThe typical balance for revenues and also expenses is a credit
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