1. The company pays $100 for postage to mail out its advertising and uses up the postage immediately. The journal entry to record these transactions includes:

a) A credit to postage supplies

b) a credit to postage revenue

c) a debit to postage expense

d) a debit to postage supplies

2. equipment costing $20,000 is purchased by paying 5,000 cash and signing a note payable for the remainder. what is one effect on assets, liabilities, or owners' equity?

a) Increase in note payable by $25000

b) increase in equipment by 25000

c) increase in equipment by 20000

d) increase in note payable by 20,000

3. the company used $100 of its paper supplies. how does this transaction affect assets, liabilities, and owners' equality?

a) Decrease in supplies: increase in owners' equity through supplies expense

b) decrease in supplies: an increase in Accounts payable

c) decrease in supplies: decrease in owner's equity through supplies expense

d) Decrease in supplies: decrease in cash

4.financial statements of publicly traded U/s companies

a) are available to investors from the company only

b) are not available to investors

5. A debit is the normal balance for the account listed below

a) common stock account

b) Liablitiy account

c) revenue account

d) dividends account

c) available to investors from the securities and exchange commission and from the company

d) are available to investors from the security and exchange commission only.