accounting question 380608
| 7.
An account will have a credit balance if the Don't use plagiarized sources. Get Your Custom Essay on
accounting question 380608
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A)debits exceed the credits. |
| 10. Which of the following is incorrect as to category, normal balance, financial statement, to increase, to decrease A)Cash asset, debit, balance sheet, credit, debit B)Accounts Payable liabilities, debit, balance sheet, credit, debit C)Common Stock shareholders equity, debit, balance sheet, credit, debit D)Service Revenue revenue, credit, income statement, debit, credit E)Dividend expense, debit, retained earning, debit, credit F)All of these G)None of these |
| 12.
The accounting equation for Eldorado Enterprises is:Assets $100,000 = Liabilities $40,000 + Stockholders’ equity Equity $60,000. If Eldorado purchases equipment for $25,000 and signs a note payable for the same amount, the new accounting equation will be: A)Assets $75,000 = Liabilities $15,000 + Stockholders’ equity $60,000. Thank you for helping. I really hope u can give me the right answer and explain the steps |
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