financial accounting II chpt II

Which of the items below ar examples of assets?
A. cash and rent expense
B. cash adn accounts receivable.
C. cash adn revenue
D. investments by the owner and revenue.

Accountants sue credits to record what activities?
A. increases in liabilities and stockholders equity.
B. decreases in liabilities and increases in assets and stokholders equity.
C. decreases in assests and stockholders equity and increases in liabilities.
D. decreases in assets, liabilities, and stockholders equity.

Accountants use debits to recor increases in which accounts?
A. revenue and stock holders equity.
B. assets and revenue.
C. assets and liabilities
D. assets and expenses.

How would an accountant record a payment of cash to pay a debt?
A. debit accounts receivalble and credit cash
B. debit cash and credit accounts payable.
C. debit cash and credit accounts recieveable.
D. debit accounts payable adn credit cash.

How does an accountant record the receipt of cash from a credit customer?

Which stockholders equity account increases as a result of the sale of goods or services to a customer?
A. the dividends account
B. the cash account.
C. the revenue account.
D. the stock account.

Which of the account types listed below normally carry a debit balance?
A. liabilities and stockholders equity.
B. assets, liabilities, and stockholders equity.
C. expenses and assets.
D. assets and revenue

Which of the accounts listed below normally carry a credit balance?
A. fees income adn stock
B. accounts payable and equipment
C. salaries expense adn accounts payable
D. accounts receivalble and fees income.

How does an accountant journalize the sale of services on account?
A. debit to A/R and a credit to stock.
B. a debit to fees income adn a credit to accounts receivable
C. a debit to cash and a credit to A/R
D. a debit to A/R and a credit to fees income

The journal entry to record the pruchase of equiment for a $300 cash down payment adn a balance of $700 due in 30 days would include?
A. debit to equipment for 1000 and a credit to cash for 1000.
B. a debit to equipment for 1000 and a credit to A/P for 7000.
C. a debit to equipment for 1000, a credit to cash for 300 and a credit to A/P for 700.
D. a debit to equipment for 300 and a credit to cash for 700