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14. Which of the following is not true? The capital account would be increased with a debit. a. h The drawing account would be increased with a debit. b. An asset account would be decreased with a credit. C. d. A liability account would be increased with a credit.

14. Which of the following is not true? The capital account would be increased with a debit. a. h The drawing account would be increased with a debit. b. An asset account would be decreased with a credit. C. d. A liability account would be increased with a credit.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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14. Which of the following is not true? a debit. C. A revenue account would be increased with a credit. An expense account would be increased with a credit. be increased with a debit. d. The capital account would be increased with a debit. a. The drawing account would be increased with a debit.. C. An asset account would be decreased with a credit. d. A liability account would be increased with a credit. 15. Ready Company received a bill for advertising. The accountant would record a a. credit to cash. b. credit to accounts receivable. C. credit to accounts payable. d. credit to advertising expense. 16. Which of the following is correct, assuming the following transaction: B. Macaranas invested P20,000 cash in the business. Cash i-
Transcribed Image Text:14. Which of the following is not true? a debit. C. A revenue account would be increased with a credit. An expense account would be increased with a credit. be increased with a debit. d. The capital account would be increased with a debit. a. The drawing account would be increased with a debit.. C. An asset account would be decreased with a credit. d. A liability account would be increased with a credit. 15. Ready Company received a bill for advertising. The accountant would record a a. credit to cash. b. credit to accounts receivable. C. credit to accounts payable. d. credit to advertising expense. 16. Which of the following is correct, assuming the following transaction: B. Macaranas invested P20,000 cash in the business. Cash i-
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