Question 1

The normal balance for Interest Expense is:

		Debit
		Credit

4 points

Question 2

The normal balance for Loss on the Sale of Equipment is:

		Debit
		Credit

4 points

Question 3

Increase Interest Receivable with a:

		Debit
		Credit

4 points

Question 4

Decrease Treasury Stock with a:

		Debit
		Credit

4 points

Question 5

The normal balance for Loss on the Sale of Equipment is:

		Debit
		Credit

4 points

Question 6

The account classification for Allowance for Doubtful Accounts is contra:

		Asset
		Liability
		Equity
		Revenue
		Expense

4 points

Question 7

The normal balance for Accounts Receivable is:

		Debit
		Credit

4 points

Question 8

Consulting Revenue would appear on the:

		Balance Sheet
		Income Statement
		Statement of Owner's Equity

4 points

Question 9

Utilities Expense would appear on the:

		Balance Sheet
		Income Statement
		Statement of Owner's Equity

4 points

Question 10

The account classification for Accumulated Depreciation is a contra:

		Asset
		Liability
		Equity
		Revenue
		Expense

4 points

Question 11

The account classification for Owner's Capital is:

		Asset
		Liability
		Equity
		Revenue
		Expense

4 points

Question 12

The normal balance for Bonds Payable is:

		Debit
		Credit

4 points

Question 13

Increase Machinery with a:

		Debit
		Credit

4 points

Question 14

The account classification for Gain on the Sale of Equipment is

		Asset
		Liability
		Equity
		Revenue
		Expense