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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.
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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|

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Asked 4/17/2012 1:18:30 PM
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This answer has been confirmed as correct, not copied, and helpful.
Confirmed by andrewpallarca [6/16/2014 3:38:38 PM]
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