4 PTS WHICH TYPE OF ACCOUNT INCREASESWITH A CREDIT?(A) ASSETS(B)LIABILITIES(C) EXPENSES(D) DIVIDENDS

Concept of Debits and CreditsIn accounting, debits and credits are used to record transactions using…

Answered: WHICH TYPE OF ACCOUNT INCREASES WITH A…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 14DQ

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Consider the following accounts, and determine if the account is an asset (A), a liability (L), or equity (E). A. Accounts Payable B. Cash C. Dividends D. Notes Payable
What are real accounts? What are nominal accounts? Give examples of each.
What is the impact on the accounting equation when an accounts receivable is collected? A. both sides increase B. both sides decrease C. only the Asset side changes D. the total of neither side changes
What is a permanent account? On which financial statement are permanent
Which of these accounts is a liability? A. Accounts Receivable B. Supplies C. Salaries Expense D. Accounts Payable
Define current assets and current liabilities. Why are current assets and current liabilities separated from noncurrent assets and long-term liabilities on the balance sheet?
In which of the following types of accounts are increases recorded by credits? Question 8 options: Revenue, Dividends Liability, Revenue Dividends, Asset Expense, Liability
Which of the following accounts is increased by a debit? Common Stock Accounts Payable Inventory Service Revenue Long-Term Debt
How are gain contigencies reported in the financial statements? a. a contingent account receivable b. an accrued revenue c. a deferred revenue d. not at all
Which of the following are increased by credits?: a) revenues and gains b) expenses and losses c) assets d) dividends
We credit Dividends Payable on: a. Payment date. b. Record date.c. Declaration date. d. Never.
Which of the following is a connector account? Retained Earnings O Prepaid Rent O Common Stock O Bond Payable O Accumulated Depreciation

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WHICH TYPE OF ACCOUNT INCREASES WITH A CREDIT? (A) ASSETS (B)LIABILITIES (C) EXPENSES (D) DIVIDENDS