Acct 2301 chapter 2 hwk
which of the following shows a chronological record of all transactions
the general journal
a debit is used to decrease which of the following accounts
accounts payable
A trial balance can best be explained as a list of
all accounts and their balances at a particular date
a list of all account names used to record transactions of a company is referred to as a
chart of accounts
providing services to customers for cash would be recorded with a
credit to service revenue
which of the following accounts normally has a credit balance
service revenue
which of the following accounts normally has a debit balance
supplies
the payment for utilities of the current month would be recorded as
debit utilities expense; credit cash
a credit to cash will
decrease assets
a debit to salaries expense will
decrease stockholders' equity
which of the following transactions causes an increase in total assets
issue common stock in exchange for cash
purchasing land with cash would have what effect on the accounting equation
no effect
which of the following transactions decreases stockholders' equity
pay salaries for the current period
which of the following transactions causes a decrease in stockholders' equity
paying advertising expense for the current month
Which of the following represents an external transaction
payment of utility bill
the process of transferring debit and credit information from the general journal to the general ledger is known as
posting
which of the following transactions increases total assets
provide services to customers on account
If a company has an increase in total revenues of $10,000, which of the following is possible
total assets increase by $10,000
posting is the process of
transferring the debit and credit information from the journal to individual accounts in the general ledger
Which of the following correctly describes a list of accounts and their balances, showing that total debits equal total credits
trial balance
a debit is used to increase which of the following accounts
utilities expense