Question

In: Finance

What will decrease these account items – Debit or Credit? Fill in the blanks. Liabilities __________...

What will decrease these account items – Debit or Credit? Fill in the blanks. Liabilities __________ Expenses __________ Gains _____________

Solutions

Expert Solution

jeff jeffy answered 4 months ago
Next > < Previous

Related Solutions

What will increase the following account items – Debit or Credit? Fill in the blanks. Assets...
What will increase the following account items – Debit or Credit? Fill in the blanks. Assets _____________ Equity _____________ Losses _____________
a) Fill in the blanks with either “debit” or “credit”
a) Fill in the blanks with either “debit” or “credit”What increases the account?What decreases the account?What is the normal balance?AssetsLiabilitiesEquityRevenueGainsExpensesLossesb) Based on the following information, prepare a balance sheet.Current Assets = $50,000; Property, Plant & Equipment = $125,000;Accumulated Depreciation = $25,000; Accounts Payable = $10,000;Notes Payable = $15,000; Total Liabilities = $50,000c) Prepare “Adjusting Journal Entries” for the following monthly transactions that occurred during the month of June 2010: (a) payment of $40,000 in employee salaries; (b) $70,000 in “cash”...
Options: Current Account Debit, Current Account Credit, Capital Account Debit, Capital Account Credit 1. Foreign freight...
Options: Current Account Debit, Current Account Credit, Capital Account Debit, Capital Account Credit 1. Foreign freight and shipping services purchased by a Canadian exporter from a foreign transportation firm 2. Japan purchases more Canadian lumber products 3. Nova corporation of Canada sells a new stock issue to a Chinese investor 4. The purchase of insurance from Lloyds of London 5. The hotel bill of a Canadian tourist in Rome 6. Expenditures abroad by Canadian tourists 7. $15,000,000 sale of natural...
What would be the correct Debit Account and Credit Account for the following? Pay cash for...
What would be the correct Debit Account and Credit Account for the following? Pay cash for delivery van: Covert a Long-term liability into common stock Declared a cash dividend Paid Cash Dividends Received cash for services performed Pay off Short-term liability Purchase office equipment, giving a percentage promissory note Disbursed Salaries and Wages Invest Cash in Exchange for Common stock Purchased equipment by signing a 3-month 12%, note payable Receives cash in advance for service TO BE Performed Pays Rent...
Please fill in the blanks: __________________ - Liabilities = Owner’s Equity. Please express the equation for...
Please fill in the blanks: __________________ - Liabilities = Owner’s Equity. Please express the equation for the Income Statement: ____________________ - ________________ = Net Income. Please express the equation for the Statement of Retained Earnings: BB + or - ______________________ - Dividends +or- = _____________________. Please express the equation for the Balance Sheet: ________________________ = ____________________________ + _________________________. What are the three types of cash flows listed in the Statement of Cash Flows? _________________________, __________________________, _________________________. What are the four...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 7,200 units, 4/5 completed 12,528 31 Direct materials, 129,600 units 168,480 181,008 31 Direct labor 49,490 230,498 31 Factory overhead 27,838 258,336 31 Goods finished, 131,400 units 249,372 8,964 31 Bal. ? units, 3/5 completed 8,964 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 24,000 units, 3⁄4 completed 116,700 31 Direct materials, 134,000 units 234,500 351,200 31 Direct labor 150,000 501,200 31 Factory overhead 375,000 876,200 31 Goods finished, 128,000 units 760,700 115,500 31 Bal., ? units, 1⁄2 completed 115,500 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1...
ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 4,800 units, 2/5 completed 11,232 31 Direct materials, 86,400 units 172,800 184,032 31 Direct labor 50,600 234,632 31 Factory overhead 28,456 263,088 31 Goods finished, 87,600 units 253,944 9,144 31 Bal. ? units, 3/5 completed 9,144 The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. a. Based on the...
DEBIT AND CREDIT ANALYSIS: Complete the following statements using either “debit” or “Credit” The cash account...
DEBIT AND CREDIT ANALYSIS: Complete the following statements using either “debit” or “Credit” The cash account is increased with a                                                 ___________Debit________ The common stock account is increased with a                                   ____________Credit________ The equipment account is increased with a                                            ____________________ The cash account is decreased with a                                                 ____________________ The accounts payable account is increased with a                    ___________Credit_________ The revenue account Delivery Fees is increased with a                               ____________________ The asset account Accounts...
C++ Fill in the blanks please You are required to fill in the blanks in this...
C++ Fill in the blanks please You are required to fill in the blanks in this program. Consider that: -In main, the variables price and quantity were given the names of p (double) and q (int), respectively. -In the getData function, the parameters associated with the main variables p and q were called pp and pq, respectively. // Prototype: Do not include the names // of the variables in the prototype void getData (FILLTHEBLANK , FILLTHEBLANK); int main () {...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT