Debit or credit balance Which of the following accounts would normally have a debit balance? A. Capital

Question:

Debit or credit balance Which of the following accounts would normally have a debit balance?

A. Capital account

B. Discount received

C. Drawings

D. Returns outwards

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting For Cambridge International AS And A Level

ISBN: 9780198399711

1st Edition

Authors: Jacqueline Halls Bryan, Peter Hailstone

See More Books

Question Posted: Sep 15, 2021 03:57 AM

See More Questions

Which of the following accounts would appear only in an accrual basis accounting system, and which could appear in either a cash basis or an accrual basis accounting system? (a) Capital Stock, (b)...
Which of the following accounts would most likely vary directly with the level of firm's sales? Discuss eachbriefly Ys No Cash Marketable Sec. Acct. Payable _Notes payable Plant and Equip Inventories
Which of the following accounts would most likely vary directly with the level of a firms sales? Discuss each briefly. YES No YES NO Cash Marketable securities Accounts payable Notes payable nd...
A. Determine the cost of the goods sold for the September 30 sale. B. Determine the inventory on September 30. Beginning inventory, purchases, and sales for an inventory item are as follows: 31 units...
Is it possible for a decomposition reaction to also be a combustion reaction? Give an example to support your case.
Refer to the information for Able Company in Exercise 13.7. Required: 1. Present the operating activities section of the statement of cash flows for Able Company using the direct method. Assume that...
Prepare financial statements for governmental and private health care service providers. AppendixLO1
The Cincinnati Zoo and Botanical Gardens had a record attendance of 1.87 million visitors in 2017 (Cincinnati Business Courier website). Nonprofit organizations such as zoos and museums are becoming...
Income: Sales $945,000 Interest from State of New York Bonds 3,400 Life insurance proceeds (from policy carried on the life of recently deceased corporation president) 100,000 Refund of federal...
a. What is the maximum amount that Roy should advise his client to withdraw on her 60th birthday? If she lives until age 90, how much should the client expect to leave to her heirs? b. Roy is now...
Explain what these terms mean. a. Uncredited banking b. Standing order
Holly purchased a new motor vehicle for her business for $24 000. Holly depreciates motor vehicles at 25 per cent per annum using the reducing-balance method of depreciation. a. Calculate the annual...
Research the Facebook dating app. If you are (or imagine you were) unattached, would you use this feature? Why or why not? What steps has Facebook rolled out to try to protect privacy and make this...
If Technical Specification 2 were reduced in the next design for this product, what would likely happen to customer opinion of Value Feature A? Quick Start QFD Matrix 2 Strong positive correlation...
Customer opinion of Value Feature B is most strongly correlated with what technical specification? Quick Start QFD Matrix 2 Strong positive correlation Some positive correlation == Strong negative...
Consider Quick Start QFD Matrix 1 above. Of the two value features, which do cus- tomers consider three times more important? Quick Start Quick Start QFD Matrix 1 = Strong positive correlation = Some...
Which technical spec can be most easily modified without changing current choices for the other two technical specs? Quick Start Quick Start QFD Matrix 1 = Strong positive correlation = Some positive...
Use Table A.1 to select 20 three-digit random numbers. Did any of the numbers occur more than once? How is it possible for a number to occur more than once? Make a stem-and-leaf plot of the numbers...
SSG Cycles manufactures and distributes motorcycle parts and supplies. Employees are offered a variety of sharebased compensation plans. Under its nonqualified stock option plan, SSG granted options...
Assume today is the 21st of February. Using the information below, FT Extract, answer the following questions (parts i and ii). You work for a US company that is due to receive 250 million in June...
Define the marketing concept in your own words, and then explain why the notion of profit is usually included in this definition.
Define the marketing concept in your own words, and then suggest how acceptance of this concept might affect the organization and operation of your college.
Distinguish between production orientation and marketing orientation, illustrating with local examples.
The payroll register of Ruggerio Co. indicates $13,800 of social security withheld and $3,450 of Medicare tax withheld on total salaries of $230,000 for the period. Federal withholding for the period...
All of the following are included on Form 1040, page 1, EXCEPT: The determination of filing status. The Presidential Election Campaign check box. The income section. The paid preparer signature line.
Question One: (25 marks) (X) Inc. purchased 80% of the outstanding voting shares of (Y) for $360,000 on July 1, 2017. On that date, (Y) had common shares and retained earnings worth $180,000 and...

Debit or credit balance Which of the following accounts would normally have a debit balance? A. Capital

Question:

Step by Step Answer:

A debit balance in an account means that the account has a positive value while a cre...View the full answer

Accounting For Cambridge International AS And A Level

Students also viewed these Business questions