Question 1

Increase Sales Tax Payable with a

		Debit
		Credit

4 points

Question 2

Decrease Common Stock with a:

		Debit
		Credit

4 points

Question 3

The normal balance for Cash is

		Debit
		Credit

4 points

Question 4

Increase Interest Payable with a:

		Debit
		Credit

4 points

Question 5

The account classification for Common Stock is:

		Asset
		Liability
		Equity
		Revenue
		Expense

4 points

Question 6

Decrease Consulting Revenue with a:

		Debit
		Credit

4 points

Question 7

Increase Equipment with a:

		Debit
		Credit

4 points

Question 8

Decrease Equipment with a:

		Debit
		Crdit

4 points

Question 9

Notes Receivable would appear on the:

		Balance Sheet
		Income Statement
		Statement of Owner's Equity

4 points

Question 10

Increase Notes Payable with a:

		Debit
		Credit

4 points

Question 11

Utilities Expense would appear on the:

		Balance Sheet
		Income Statement
		Statement of Owner's Equity

4 points

Question 12

The account classification for Allowance for Doubtful Accounts is contra:

		Asset
		Liability
		Equity
		Revenue
		Expense

4 points

Question 13

Increase Owner's Capital with a:

		Debit
		Credit

4 points

Question 14

Goodwill would appear on the:

		Balance Sheet
		Income Statement
		Statement of Owner's Equity

4 points

Question 15

The account classification for Notes Payable is:

		Asset
		Liability
		Equity
		Revenue
		Expense

4 points

Question 16

The normal balance for Common Stock is:

		Debit
		Credit

4 points

Question 17

The normal balance for Accounts Payable is:

		Debit
		Credit

4 points

Question 18

FICA Tax Payable would appear on the:

		Balance Sheet
		Income Statement
		Statement of Owner's Equity

4 points

Question 19

Decrease Utilities Expense with a:

		Debit
		Credit

4 points

Question 20

The normal balance for Accounts Receivable is:

		Debit
		Credit

4 points

Question 21

Consulting Revenue would appear on the:

		Balance Sheet
		Income Statement
		Statement of Owner's Equity

4 points

Question 22

The normal balance for Rent Expense is:

		Debit
		Credit

4 points

Question 23

The normal balance for Interest Expense is:

		Debit
		Credit

4 points

Question 24

The account classification for Allowance for Doubtful Accounts is contra:

		Asset
		Liability
		Equity
		Revenue
		Expense

4 points

Question 25

The account classification for Owner's Capital is:

		Asset
		Liability
		Equity
		Revenue
		Expense

4 points