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Q: In classifying transactions, which of the following is true in regard to assets? A. Normal balances and increases are debits. B. Normal balances and decreases are credits. C. Normal
balances can either be debits or credits for assets. D. Normal balances are debits and increases can be debits or credits.
A: In classifying transactions the following is true in regard to assets: A. Normal balances and increases are debits.
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User: In classifying transactions, which of the following is true in regard to assets? A. Normal balances and increases are debits. B. Normal balances and decreases are credits. C. Normal balances can either be debits or credits for assets. D. Normal balances are debits and increases can be debits or credits.

Weegy: In classifying transactions the following is true in regard to assets: A. Normal balances and increases are debits.
debnjerry|Points 32998|

User: An increase in an expense account must be A. debited B. credited C. either debited or credited, depending on the circumstances D. capitalized

Weegy: An increase in an expense account must be A. debited.
debnjerry|Points 32998|

User: ABC Corporation issues 100 shares of $1 par common stock at $5 per share, which of the following is the correct journal entry? A. Cash $100 Common Stock $100 B. Cash $500 Common Stock $500 C. Cash $500 Paid-in Capital, Excess of Par $400 Common Stock $100 D. Cash $100 Paid-in Capital, Excess of Par $400 Common Stock $500

Weegy: C. Cash $500 Paid-in Capital, Excess of Par $400 Common Stock $100
kashton|Points 453|

User: In the first month of operations, the total of the debit entries to the cash account amounted to $1,400 and the total of the credit entries to the cash account amounted to $600. The cash account has a A. $600 credit balance B. $1,400 debit balance C. $800 debit balance D. $800 credit balance

Weegy: C. $800 debit balance. $1,400 debit entries - $600 credit entries = $800 debit balance.
migzptz|Points 6106|

User: Which ledger contains control accounts? A. Accounts receivable subsidiary ledger B. General ledger C. Accounts payable subsidiary ledger D. General revenue and expense ledger

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Asked 6/24/2012 3:51:51 PM
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