Question and answer
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.
In classifying transactions the following is true in regard to assets: A. Normal balances and increases are debits.
Get an answer
Original conversation
User: In terms of sequence, in what order must the four basic financial statements be prepared? A. Balance sheet, income statement, statement of cash flows, and capital statement B. Income statement, capital statement, statement of cash flows, and balance sheet C. Balance sheet, capital statement, statement of cash flows, and income statement D. Income statement, capital statement, balance sheet, and statement of cash flows

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 29897|

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 29897|

User: 4) An increase in an expense account must be A. debited B. credited C. either debited or credited, depending on the circumstances D. capitalized

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: If the treasury stock is sold for more than cost, then the paid-in capital treasury stock is the account that is increased, not retained earnings. So ans is B.
Expert answered|Shanaaz1986|Points 170|

Question
Asked 4/17/2012 1:18:30 PM
0 Answers/Comments
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
The form of alternative dispute resolution wherein the parties hire someone to review the evidence and make a decision that is binding upon the parties is called
Weegy: Hi! The answer you're looking for is "Arbitration". Thanks for using Weegy! (More)
Question
Expert Answered
Asked 4/16/2012 8:31:18 AM
0 Answers/Comments
The federal trade comission is an example of what type of government?
Weegy: It is an independent agency of the United States government. It is an AGENCY in a FEDERAL FORM of government. [do the answer helped you?do not forget to rate.thank you!] (More)
Question
Expert Answered
Asked 4/16/2012 9:04:43 AM
0 Answers/Comments
If a corporation is properly incorporated in one state and wants authority to do business in second state, the corporation typically must A. re-incorporate in the second state B. do nothing because being incorporated in one state automatically entitles the corporation to do business in all states C. register with the Interstate Commerce Commission as an alien corporation D. obtain a certificate of authority from the second state
Question
Not Answered
Updated 4/16/2012 11:29:23 AM
1 Answer/Comment
If a corporation is properly incorporated in one state and wants authority to do business in second state, the corporation typically must C. register with the Interstate Commerce Commission as an alien corporation.
Added 4/16/2012 11:29:23 AM
This answer has been confirmed as correct, not copied, and helpful.
Confirmed by andrewpallarca [6/16/2014 3:38:38 PM]
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. 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 User: Smith is a customer of ABC Corporation. Smith typically purchases merchandise from ABC on account. Which ledger would ABC use to keep track of the details of Smith’s account? A. Accounts receivable subsidiary ledger B. Accounts receivable control ledger C. General ledger D. Accounts payable subsidiary ledger User: Under the cash basis of accounting, A. revenue is recognized when services are performed B. expenses are matched with the revenue that is produced C. cash must be received before revenue is recognized D. a promise to pay is sufficient to recognize revenue Weegy: B. expenses are matched with the revenue that is produced User: Under the accrual basis of accounting, A. cash must be received before revenue is recognized B. net income is calculated by matching cash outflows against cash inflows C. events that change a company’s financial statements are recognized in the period they occur rather than in the period in which the cash is paid or received D. the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles Weegy: C. events that change a company?s financial statements are recognized in the period they occur rather than in the period in which the cash is paid or received User: The Vintage Laundry Company purchased $6,500 worth of laundry supplies on June 2 and recorded the purchase as an asset. On June 30, an inventory of the laundry supplies indicated only $2,000 on hand. The adjusting entry that should be made by the company on June 30 is A. debit Laundry Expense, $2,000; credit Laundry ... (More)
Question
Expert Answered
Asked 4/17/2012 1:26:58 PM
0 Answers/Comments
17,624,307 questions answered
Popular Conversations
Which of the following is correct? A. The purine G bonds with the ...
Weegy: B. The purine C bonds with the pyrimidine G. User: The purines in DNA are A. thymine and ...
10/1/2014 2:38:30 PM| 3 Answers
antonym of prevented ...
10/1/2014 9:05:38 AM| 3 Answers
Simplify the expression. (3x - 1)(x^2 + 2x - 4) User: 3x+2(x+5) ...
Weegy: 1+tan^2(x) = sec^2(x) 1+cot^2(x) = csc^2(x) (1+tan^2(x)) / (1+cot^2(x) = sec^2(x) / csc^2(x) = ...
10/1/2014 1:46:20 AM| 3 Answers
The pressure of ocean water increases as depth increases. User: The ...
Weegy: It originates in the Gulf of Mexico and, as the Florida Current, passes through the Straits of Florida and then ...
9/30/2014 6:27:02 AM| 3 Answers
The densest ocean water is generally found a. in the surface ...
Weegy: A. in the surface zone User: In which zone is ocean temperature most affected by the weather? a. transition ...
9/30/2014 6:07:25 AM| 3 Answers
What is planter flexion?
10/1/2014 1:37:43 PM| 2 Answers
what is weegy
Weegy: Weegy also has a montly point contest. [ The experts with the most points per month wins extra money! I haven't ...
10/1/2014 12:19:15 PM| 2 Answers
Who is Harry Bailly?
10/1/2014 11:54:52 AM| 2 Answers
What is an overdraft?
10/1/2014 11:23:22 AM| 2 Answers
Weegy Stuff
S
L
1
L
P
C
1
P
C
1
Points 92 [Total 9574]| Ratings 0| Comments 92| Invitations 0|Offline
S
L
1
1
1
1
L
1
L
Points 43 [Total 12418]| Ratings 0| Comments 43| Invitations 0|Offline
S
1
L
1
L
P
P
L
Points 38 [Total 12267]| Ratings 0| Comments 38| Invitations 0|Offline
S
1
L
L
Points 35 [Total 5829]| Ratings 0| Comments 35| Invitations 0|Offline
S
Points 10 [Total 10]| Ratings 1| Comments 0| Invitations 0|Offline
S
1
L
1
Points 10 [Total 3354]| Ratings 1| Comments 0| Invitations 0|Offline
S
P
C
L
P
L
1
Points 6 [Total 6240]| Ratings 0| Comments 6| Invitations 0|Offline
S
Points 2 [Total 37]| Ratings 0| Comments 2| Invitations 0|Offline
S
Points 1 [Total 214]| Ratings 0| Comments 1| Invitations 0|Offline
S
1
L
Points 1 [Total 3077]| Ratings 0| Comments 1| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.