Expenses are increased with: A. Debits because they decrease stockholders' equity B. Credits because they decrease stockholders' equity C. Credits because they increase stockholders' equity D. Debits because they increase stockholders' equity

What are two transaction types that increase owner's equity? expenses and revenue O withdrawals and investments O investments and revenue expenses and withdrawals

Which of the following statements is not true? O a. Expenses increase stockholders' equity. O b. The effect of every transaction is an increase or a decrease in one or more of the accounting equation elements (assets, lia O c. The two sides of the accounting equation are always equal. O d. Stockholders' equity is increased by stockholders' investments and is decreased by dividends.

Which of the following shows how paying cash to purchase supplies will affect a company's financial statements? Multiple Choice Assets = Liabilities + Assets Assets +/- Balance Sheet Assets +/- ΝΑ Balance Sheet = Liabilities + ΝΑ Balance Sheet = Liabilities + ΝΑ Balance Sheet = Liabilities + ΝΑ Stockholders' Equity Stockholders' Equity Stockholders' Equity ΝΑ Stockholders' Equity ΝΑ Revenue ΝΑ Revenue ΝΑ Revenue ΝΑ Revenue ΝΑ Income Statement Expense = Net Income ΝΑ Income Statement Expense = Net Income + Income Statement ΝΑ Expense = Net Income ΝΑ Income Statement ΝΑ Expense = Net Income ΝΑ ΝΑ Statement of Cash Flows -Operating Activity Statement of Cash Flows ΝΑ Statement of Cash Flows -Operating Activity Statement of Cash Flows ΝΑ

Which of the following has a different effect on net profit than it does on cashflow? A.Cash sale to customer B.Payment for wages C.Payment for rent D.Depreciation of equipment

What is the opening balance of retained earnings and what does it indicate? Is it the the same as beginning balance? & What does ending balance indicate as well? Please explain. Thank you

Indicate the effect of each of the following transactions on total assets, total liabilities, and total stockholders' equity. Select + for increase, for decrease, or No Effect. The first transaction is provided as an illustration. - a. Borrowed cash on a bank loan b. Paid an account payable c. Sold common stock d. Purchased merchandise inventory on account e. Declared and paid dividends f. Collected an account receivable g. Sold merchandise inventory on account at a profit h. Paid operating expenses in cash i. Repaid principal and interest on a bank loan Assets + Liabilities + Stockholders' Equity No Effect

Stockholders' equity a.is shown on the income statement b.is usually equal to cash on hand c.includes paid-in capital and liabilities d.includes retained earnings and paid-in capital