Which of the following increase owner's equity?

expenses

revenue

withdrawals

receiving cash from customers

Credits are used to record?

decreases in assets and owner's equity and increases in liabilities.

decreases in assets, liabilities, and owner's equity.

decreases in liabilities and increases in assets and owner's equity.

increases in liabilities and owner's equity.

Which of the following accounts is NOT a nominal account?

Salaries Expense

Moriah Paige, Drawing

Rent Revenue

Office Supplies

A firm paid cash to apply against a debt. To record this transaction, the accountant would

debit Accounts Receivable and credit Cash.

debit Accounts Payable and credit Cash.

debit Cash and credit Accounts Payable.

credit Cash and credit Accounts Payable.

The classification and normal balance of the salaries expense account is:

an expense with a credit balance

a liability with a debit balance

an asset with a debit balance

an expense with a debit balance