In a T-account credits appear Group of answer choices A. on the left under assets but on the right under liabilities and stockholders’ equity. B. an the right under assets but on the left under liabilities and stockholders’ equity. C. always on the right. D. always on the left.

Indicate whether each account is an asset, liability or a stockholders' equity account and whether it would have a normal debit or credit balance. a. Accounts Receivable    d. Dividends b. Accounts Payable          e. Supplies c. Equipment

Classify each of the accounts listed below as assets (A), liabilities (L), owner's equity (OE), revenue (R) or expense (E). Indicate the normal debit or credit balance of each account. Indicate whether each account will appear in the Income Statement columns (I), or in the Balance Sheet columns (B) of the worksheet. Account Classification Normal Balance Income Statement or Balance Sheet columns EX. Rent Expense E Debit I         a. Accounts Recievable       b. Depreciation Expence - Vehicle       c. Accounts Payable       d. B. Brendo, Capital       f. Computer Equipment       g. Accumulated Depreciation - Vehicle       h. Allowance for Bad Debts       i. Consulting Revenues       j. Insurance Expense       k. Building       l. Notes Payable       m. Unearned Rebenues       n. Interest Expense       o, B. Brendo, Drawings       p. supplies

Which of the following accounts is considered a temporary or nominal account?A. Fees Earned RevenueB. Prepaid AdvertisingC. Unearned Service RevenueD. Prepaid Insurance

In the blank space beside each account, enter the code for the financial statement column (IS or BS) where a normal account balance is extended. Use IS for the Income Statement column or BS for the Balance Sheet and Statement of Owner’s Equity column. a. Equipment b. Owner, Withdrawals c. Prepaid Rent d. Depreciation Expense e. Accounts Receivable f. Insurance Expense g. Supplies h. Rent Expense i. Cash

In a T-account debits appear in what manner? Multiple Choice O They are on the right under assets but on the left under liabilities and shareholders' equity. O They are always listed on the right. They are on the left under assets but on the right under liabilities and shareholders' equity. They are always listed on the left.

For each transaction, indicate whether each account would be classified in the balance sheet as (a) an asset, (b) a liability, or (c) stockholders’ equity; in the income statement as (d) a revenue or (e) an expense; or in the statement of stockholders’ equity as (f) a dividend. Account Classifications Accounts Related Transactions 1. ____________ Utilities payable Amounts owed for utilities. 2. ____________ Cash Cash available for use. 3. ____________ Salaries expense Cost of salaries. 4. ____________ Common stock Shares of ownership sold to investors. 5. ____________ Service revenue Sale of services to customers.

For each transaction, indicate whether each account would be classified in the balance sheet as (a) an asset, (b) a liability, or (c) stockholders’ equity; in the income statement as (d) a revenue or (e) an expense; or in the statement of stockholders’ equity as (f) a dividend. Account Classifications Accounts Related Transactions 1. _________ Rent expense Cost of rent. 2. __________ Interest revenue Interest earned on savings account. 3. __________ Dividends Cash payments to stockholders. 4. __________ Land Land used for operations. 5. ___________ Accounts payable Amounts owed to suppliers.

An accounting entry that is characterized by having multiple debits and/or multiple credits is called a entry. A. chart of accounts O B. compound journal O C. posted O D. balanced Click to select vour answer.

Performing a service on account willa. increase stockholders’ equity.b. increase total assets.c. increase total liabilities.d. accomplish both a and b.