Principles of Financial Accounting.
22nd Edition
ISBN: 9780077632892
Author: John J. Wild
Publisher: McGraw Hill
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Chapter 2, Problem 4E
To determine
Identify (1) type of the account, (2) the normal balance of the account, and (3) the kind of entry that would increase the account balance.
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TOPIC: Rules of Debit and Credit
Instruction: Identify the classification of account. And Choose the letter of the correct answer.
Questions:
1. Other Revenue a. Assetsb. Liabilitiesc. Equityd. Income e. Expense
2. Prepaid Renta. Assetsb. Liabilitiesc. Equityd. Income e. Expense
3. Allowance for Doubtful Accountsa. Assetsb. Liabilitiesc. Equityd. Income e. Expense
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6. Used Shop Suppliesa. Assetsb. Liabilitiesc. Equityd. Income e. Expense
7. Utilities Expensea. Assetsb. Liabilitiesc. Equityd. Income e. Expense
8. Salaries and Wagesa. Assetsb. Liabilitiesc. Equityd. Income e. Expense
9. Beverage Inventorya. Assetsb. Liabilitiesc. Equityd. Income e. Expense
10. Uncollectible Accounta. Assetsb. Liabilitiesc. Equityd. Income e. Expense
11. Landa. Assetsb. Liabilitiesc. Equityd. Income e. Expense
12. Accounts Receivablea. Assetsb. Liabilitiesc. Equityd.…
Which of the following best describes the classification and normal balance of the accounts receivable account?
Select one:
a. Asset, Debit
b. Liability, credit
c. Revenue, credit
d. Owner's equity, debit
Which one of the four methods of payments creates an accounts receivable?
Select one:
a. cash in advance
b. open account
c. draft
d. letter of credit
Chapter 2 Solutions
Principles of Financial Accounting.
Ch. 2 - Amalia Company received its utility bill for the...Ch. 2 - On May 1, Mattingly Lawn Service collected 2,500...Ch. 2 - Prob. 3MCQCh. 2 - A trial balance prepared at year-end shows total...Ch. 2 - Prob. 5MCQCh. 2 - Prob. 1DQCh. 2 - What is the difference between a note payable and...Ch. 2 - Prob. 3DQCh. 2 - Prob. 4DQCh. 2 - Are debits or credits typically listed first in...
Ch. 2 - Prob. 6DQCh. 2 - Prob. 7DQCh. 2 - Prob. 8DQCh. 2 - Prob. 9DQCh. 2 - Prob. 10DQCh. 2 - Prob. 11DQCh. 2 - Prob. 12DQCh. 2 - Prob. 13DQCh. 2 - Define (a) assets, (b) liabilities, (c) equity,...Ch. 2 - Which financial statement is sometimes called the...Ch. 2 - APPLE Review the Apple balance sheet in Appendix...Ch. 2 - Prob. 17DQCh. 2 - Prob. 18DQCh. 2 - Prob. 1QSCh. 2 - Identifying financial statement accounts C2...Ch. 2 - Prob. 3QSCh. 2 - Prob. 4QSCh. 2 - Linking debit or credit with normal balance C4...Ch. 2 - Analyzing transactions and preparing journal...Ch. 2 - Prob. 7QSCh. 2 - Identifying a posting error A trial balance has...Ch. 2 - Prob. 9QSCh. 2 - Prob. 10QSCh. 2 - Prob. 1ECh. 2 - Prob. 2ECh. 2 - Prob. 3ECh. 2 - Prob. 4ECh. 2 - Prob. 5ECh. 2 - Prob. 6ECh. 2 - Prob. 7ECh. 2 - Prob. 8ECh. 2 - Prob. 9ECh. 2 - Prob. 10ECh. 2 - Prob. 11ECh. 2 - Prob. 12ECh. 2 - Prob. 13ECh. 2 - Prob. 14ECh. 2 - Prob. 15ECh. 2 - Prob. 16ECh. 2 - Prob. 17ECh. 2 - Prob. 18ECh. 2 - Prob. 19ECh. 2 - Identifying effects of posting errors on the trial...Ch. 2 - Analyzing a trial balance error You are told the...Ch. 2 - Prob. 22ECh. 2 - Prob. 23ECh. 2 - Prob. 5APCh. 2 - Prob. 6APCh. 2 - Prob. 5BPCh. 2 - Prob. 6BPCh. 2 - Prob. 2SPCh. 2 - Prob. 1BTNCh. 2 - Prob. 2BTNCh. 2 - Prob. 3BTNCh. 2 - COMMUNICATING IN PRACTICE Lila Corentine is an...Ch. 2 - Prob. 5BTNCh. 2 - Prob. 7BTNCh. 2 - Prob. 8BTNCh. 2 - Prob. 10BTN
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