Q: 1

Which of the statements of the rules of debit and credit is true?

Group of answer choices

A: Increase Accounts Payable with a credit and the normal balance is a credit.

B: Decrease Accounts Receivable with a credit and the normal balance is a credit.

C: Decrease Cash with a debit and the normal balance is a debit.

D: Increase Revenue with a debit and the normal balance is a debit.

Q2: At the end of 2018, Net Income on the income statement for the Badger Inn was $145,000 while Net Income for 2017 was $100,000. The year-over-year variance for net income was:

Group of answer choices

A: $45,000 and 145%

B: $45,000 and 31%

C: $45,000 and 131%

D: $45,000 and 45%