Question and answer
Which statement about the rules of debit and credit is true? A. If accounts receivable is decreased with a credit, the normal balance is a credit. B. If accounts payable is increased with a credit, the normal balance is a credit. C. If capital is increased with a debit, the normal balance is a debit. D. If cash is decreased with a debit, the normal balance is a debit.
Question
Asked 11/30/2014 11:37:07 PM
Updated 12/1/2014 2:02:55 PM
1 Answer/Comment
This answer has been confirmed as correct and helpful.
Confirmed by debnjerry [12/1/2014 2:02:55 PM]
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Original conversation
User: Which statement about the rules of debit and credit is true? A. If accounts receivable is decreased with a credit, the normal balance is a credit. B. If accounts payable is increased with a credit, the normal balance is a credit. C. If capital is increased with a debit, the normal balance is a debit. D. If cash is decreased with a debit, the normal balance is a debit.

Weegy: The true statement is:
If accounts payable is increased with a credit, the normal balance is a credit.



User: A category that is not in the chart of accounts is A. assets. B. liabilities. C. cash flows. D. revenue.

Question
Asked 11/30/2014 11:37:07 PM
Updated 12/1/2014 2:02:55 PM
1 Answer/Comment
This answer has been confirmed as correct and helpful.
Confirmed by debnjerry [12/1/2014 2:02:55 PM]
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8
A category that is not in the chart of accounts is cash flows.
Added 12/1/2014 4:47:53 AM
This answer has been confirmed as correct and helpful.
Confirmed by debnjerry [12/1/2014 2:02:57 PM], Rated good by debnjerry
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Questions asked by the same visitor
The left side of any account is the A. debit side. B. credit side. C. ending balance. D. footings.
Question
Updated 12/1/2014 1:11:26 AM
1 Answer/Comment
The left side of any account is the: DEBIT SIDE.
Added 12/1/2014 1:11:26 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [12/1/2014 1:12:10 AM]
When recording transactions in two or more accounts and the totals of the debits and credits are equal, it’s called A. debiting. B. crediting. C. posting. D. double-entry bookkeeping.
Weegy: Double-entry bookkeeping is the accounting practice of recording every transaction in two places. [ ] User: The owner of BobCats R Us paid his personal MasterCard bill using a company check. What is the correct entry to record the transaction? A. Credit Cash; debit Capital B. Credit Cash; debit Supplies Expense C. Credit Cash; debit Withdrawals D. Credit Cash; debit Accounts Receivable Weegy: The owner of BobCats R Us paid his personal MasterCard bill using a company check. The correct entry to record the transaction is Credit Cash; debit Withdrawals. (More)
Question
Expert Answered
Updated 12/1/2014 2:03:32 PM
0 Answers/Comments
A debit increases the balance in all of the following accounts except for which one? A. Cash B. Withdrawals C. Expenses D. Accounts payable
Weegy: A debit increases the balance in all of the following accounts EXCEPT for: ACCOUNTS PAYABLE. User: An account that would be increased by a credit is A. cash. B. accounts receivable. C. utilities expense. D. accounts payable. (More)
Question
Updated 3/28/2015 8:18:07 AM
1 Answer/Comment
An account that would be increased by a credit is accounts payable.
Added 3/28/2015 7:59:48 AM
This answer has been confirmed as correct and helpful.
Confirmed by jeifunk [3/28/2015 8:18:57 AM]
Mary invested cash in her new business. Which effect will this have? A. Increase an asset; increase a liability B. Decrease an asset; increase a liability C. Increase an asset; increase owner’s equity D. Increase an asset; decrease owner’s equity
Weegy: Investing cash in business has the effect of Increase in Asset and Increase in Owner's Equity . (More)
Question
Expert Answered
Updated 11/28/2014 6:32:37 AM
0 Answers/Comments
“PR” in the general journal and general ledger stands for A. per reviewer. B. posting reference. C. prior receipt. D. None of the above
Weegy: PR” in the general journal and general ledger stands for posting reference. (More)
Question
Expert Answered
Updated 12/2/2014 2:21:16 PM
0 Answers/Comments
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