Which of these accounts commonly requires both debit and credit entries? A. Sales Revenue B. Utilities Expense

Question:

Which of these accounts commonly requires both debit and credit entries?
A. Sales Revenue
B. Utilities Expense
C. Accounts Receivable
D. Common Stock

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

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

See More Books

Question Posted: Aug 09, 2022 11:56 PM

See More Questions

Identify whether ongoing transactions posted to the following accounts would normally have only debit entries (Dr), only credit entries (Cr), or both debit and credit entries (both). A. B. C. D. E....
Identify whether ongoing transactions posted to the following accounts would normally have only debit entries (Dr), only credit entries (Cr), or both debit and credit entries (both). A. B. C. D. E....
Planning is one of the most important management functions in any business. A front office managers first step in planning should involve determine the departments goals. Planning also includes...
Identify each of the equations as representing either a circle, a parabola, an ellipse, a hyperbola, or none of these. (x + 1) 2 + (y + 1) 2 = 2(x + y + 1)
Using the same basic format as in 17-3, we can solve for bond price be entering the settlement date, the maturity date, the annual coupon rate, the ytm, the par value of the bond expressed as a...
If you wish to estimate a population mean with a sampling error of SE = .3 using a 95% confidence interval, and you know from prior sampling that 2 is approximately equal to 7.2, how many...
1-3. Cules son los cuatro factores necesarios para que se d el marketing?
Various pension plan information of the Kerem Company for 2010 and 2011 is as follows: Required Fill in the blanks lettered (a) through (k). All the necessary information is listed. It is not...
What is the sales budget? Lacob Sports Medicine, Inc., offers two types of physical exams for students: the basic physical and the extended physical. The charge for the basic physical is $70, while...
The trial balance of Telegraphic Link at November 30, follows: Additional information at November 30, 2012: a. Accrued service revenue, $600. b. Depreciation, $300. c. Accrued salary expense, $800....
Which of these transactions requires a credit entry to Revenue? A. Received cash from services performed this month B. Collected balance due from customers C. Received cash from bank loan D. Refunded...
Which of the following accounting records is the main source of information used to prepare the financial statements? A. Journal entries B. T-accounts C. Trial balance D. Chart of accounts
Roland SE uses special strapping equipment in its packaging business. The equipment was purchased in January 2018 for 10,000,000 and had an estimated useful life of 8 years with no residual value. At...
The Role of Leadership in Shaping Organizational Culture Recent research stated that [c]ompanies with an established organizational culture that includes strong capabilities for change, commitment to...
Unscheduled absences by clerical and production workers are an important cost in many companies. Reducing the rate of absenteeism is, therefore, an important goal for a company's human relations...
Many of the largest tech firms, including Google, Apple, Amazon, and Microsoft, have spent hundreds of millions of dollars to improve their information technology infrastructure. Now, these companies...
In the business sense, a product refers to a commodity available for purchase, encompassing both services and tangible or intangible items. It may exist in physical, virtual, or cyber forms. Every...
Data Exploration and Multiple Linear Regression (MLR) using SAS. The "College" data set contains the statistics for many US Colleges from 1995 issue of US News and World Report. It has 777...
The length of an ellipse with axes of length 2a and 2b is Use numerical integration and experiment with different values of n to approximate the length of an ellipse with a = 4 and b = 8. 2T Va cos t...
Burberrys competitive advantage is through its differentiation strategy. What risk should Burberry remain aware of?
Acme Inc. has the following information available: A. Compute the material price and quantity, and the labor rate and efficiency variances. B. Describe the possible causes for this combination of...
When is the labor rate variance unfavorable? A. When the actual quantity used is greater than the standard quantity B. When the actual quantity used is less than the standard quantity C. When the...
What are some possible causes of a direct labor time variance?
Mediocre Company has sales of $120,000, fixed expenses of $24,000, and a net income of $12,000. If sales rose 10%, the new net income would be: Question 18 options: $16,800 $36,000 $13,200 $15,600
1. Why might managers of small restaurants decide not to adopt the standard work hour approach to controlling labour cost? (minimum 150 words )
Which statement is true regarding the U.S. GAAP impairment test for limited life intangibles? A. U.S. GAAP impairment is likely to be greater than IFRS impairment. B. The impairment test for limited...

Which of these accounts commonly requires both debit and credit entries? A. Sales Revenue B. Utilities Expense

Question:

Step by Step Answer:

C Accounts Receivable When the debit balance is hi...View the full answer

Principles Of Accounting Volume 1 Financial Accounting

Students also viewed these Business questions