You are watching: Of the following, which is true about assets?
The boosts in stockholders" same attributable to marketing services or products to customers is called..
A chart of account is...the exact same as a balance sheetusually a listing of accounts in alphabet orderusually a listing of account in financial statement orderused in location of a ledger
Which that the following is true around a T-account?The left side of a T account is called the debit side,The left next of a T account is called the credit transaction side,The ideal side of a T account is referred to as the debit side,Transactions are very first recorded in T accounts and also then post in the journal
adding all the debits, adding all the credits, and then subtracting the smaller sized sum indigenous the larger sum
Which group of accounts is written of just assets?Cash, accounts Payable, BuildingsAccounts Receivable, Revenue CashPrepaid Expenses, Buildings, PatentsUnearned Revenues, Prepaid Expenses, Cash
Of the following, i m sorry is true around assets?Assets incorporate both physical and also intangible itemsAssets incorporate only physics itemsAssets room the an individual property the the stockholders of the companyAssets space the result of selling assets or solutions to customers
Which the the adhering to is not thought about to be a liability?Wages Payable, account Receivable, Unearned Revenues, accounts Payable
Which the the adhering to statements is no true around liabilities?Liabilities space debts owed to outsidersAccount title of legal responsibility often incorporate the hatchet "payable"cash received before a company is performed creates a liabilityLiabilities include built up depreciation
Expenses can result from...selling stockconsuming servicesusing increase liabilitiespaying creditor on account
Which the the adhering to entries records the purchase of usual stock through stockholders?debit typical Stock; credit transaction Accounts ReceivableDebit Cash; Credit common StockDebit dividends; credit CashDebit Fees Earned; Credit common Stock
Which of the following groups of accounts have a normal debit balance?revenues, liabilities, and also stockholders" equitystockholders" equity and assetsliabilities and stockholders" equityassets and expenses
A credit may signify a...decrease in assetsdecrease in liabilitiesdecrease in usual stockdecrease in revenue
Which of the complying with applications that the rule of debit and also credit is true?decrease prepaid insurance through a credit and also the regular balance is a creditincrease account payable v a credit and the common balance is a debitincrease equipment with a debit and the regular balance is a debitdecrease cash through a debit and also the common balance is a credit
Office gives purchased by Janer"s Cleaning solutions on account were returned. The office supplies had not yet been paid for. What entries for Janer"s Cleaning organization records this transaction?
Cash was paid by Janer"s Cleaning organization to creditors on account. What entry for Janer"s Cleaning company records this transaction?
What entry documents the receipt of cash for two months" rent? The cash was obtained in development of providing the service.
A client has a massage and also asks the firm bookkeeper to mail she the bill. What entry must the bookkeeper do to document the invoice?
Which the the complying with is not a correct dominion of debits and credits?Assets, expenses, and dividends are raised by debitsAssets are reduced by credits and have a normal debit balanceLiabilities, revenues, and also stockholders" equity are enhanced by creditorsThe regular balance because that revenues and also expenses is a credit
See more: About: War Of The Oranges