1 Which of these is (are) an example of an asset account?

A. Service Revenue

B. Withdrawals

C. Supplies

D. All of the above are assets

2 In the accounts of S Chan, which of the following double-entries is the correct way to record goods returned by K Wong, a credit customer?

A. Account to Debit Account to Credit

Sales S Chan

B. Account to Debit Account to Credit

Sales K Wong

C. Account to Debit Account to Credit

Returns inwards K Wong

D. Account to Debit Account to Credit

S Chan Returns inwards

3 Which accounts have normal credit balances?

1. revenues, liabilities, and owners equity accounts
2. all temporary accounts
3. liabilities, revenues, and assets
4. assets, expenses, and dividends

4 The ending Cash account balance is $57,600. During the period, cash receipts equal $124,300. If cash payments during the period total $135,100, then the beginning Cash amount must have been $___________:

A. $68,400

B. $46,800

C. $181,900

D. Cannot be determined from the information given.