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