A contra-asset account has what type of balance?A. DebitB. CreditC. ZeroD. Variableneed help
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A contra-asset account has what type of balance?
A. Debit
B. Credit
C. Zero
D. Variable
need help
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- Excess of Debit side over Credit side is called? Select one: a. All of the above b. Debit Balance c. Liability Accounts d. Credit BalanceAssuming the following account balances, what is the missing value?Describe the relationship between debit balances and credit balances when it comes to “t graphs”?
- To decrease a contra-asset account, we will ____ it. A. Debit B. CreditAssets that can be easily converted into money without loss of value are Select one: O A. liquid. O B. liabilities. O C. transactions balances. OD. currencies.Which of the following is not an asset account?a. Cashb. Landc. Equipmentd. Common Stock
- Ayayai Corporation builds in-home theater systems. Ayayai's business is growing quickly. Therefore, the CEO, Paul Ayayai, decides to purchase three new trucks on September 20, 2017. The terms of acquisition for each truck are described below. The first truck's list price is $15,540. Ayayai exchanges home theater equipment from its inventory for the truck. The home theater equipment cost Molitor $9,620. Ayayai normally sells the equipment for $14,615. Ayayai uses a perpetual inventory 1. system. The second truck has a list price of $16,280. Ayayai makes a down payment of $3,700 cash on this truck and signs a zero- interest-bearing note with a face amount of $12,580. Payment of the note is due September 20, 2018. Ayayai would normally have to pay interest at a rate of 8% for such a borrowing. The list price of the third truck is $14,208. This truck is acquired in exchange for 888 shares of common stock in Ayayai Corporation. The stock has a par value per share of $10 and a market price…Expressing accounts receivable as a percentage of total assets is an example ofa. ratio analysis.b. vertical analysis.c. horizontal analysis.d. trend analysis.Explain what is meant by the term nominal accounts (also known as temporary accounts).
- Under which of the following categories would Accounts Receivable appear? A. long−term assets B. current assets C. long−term liabilities D. current liabilitiesDefine the followings? a. Real Account. b. Temporary Account.Title Accounts Receivable would appear in an REA diagram as an example of which kind of entity? a.... Description Accounts Receivable would appear in an REA diagram as an example of which kind of</o:p> entity?</o:p> a. resource</o:p> b. event</o:p> c. agent</o:p> d. none of the above</o:p> </o:p>
