105. Which of the accounts are increased with a debit and decreased with a credit?
a. Liabilities, stockholders’ equity, and revenues.
b. Dividends, liabilities, and assets.
c. Expenses, dividends, and stockholders’ equity.
d. Assets, dividends, and expenses.
106. Consider the following list of accounts:
Service RevenueUtilities Expense
Salaries ExpenseAccounts Receivable
Accounts PayableCommon Stock
How many of these accounts have a normal debit balance?
107. Consider the following list of accounts:
How many of these accounts have a normal credit balance?
108. Consider the following accounts:
How many of these accounts are increased with debits?
109. Which one of the following accounts will have a credit balance?
b. Salary Expense
d. Common Stock
110. Consider the following accounts:
How many of these accounts are increased with credits?
111. Providing services on account would be recorded with a:
a. Debit to Service Revenue.
b. Credit to Accounts Receivable.
c. Credit to Accounts Payable.
d. Debit to Accounts Receivable.
112. Xenon Corporation borrows $75,000 from First Bank. Xenon Corporation records this transaction with a:
a. Debit to Investments.
b. Credit to Retained Earnings.
c. Credit to Notes Payable.
d. Credit to Interest Expense.
113. Childers Service Company provides services to customers totaling $3,000, for which it billed the customers. How would the transaction be recorded?
a. Debit Cash $3,000, credit Service Revenue $3,000.
b. Debit Accounts Receivable $3,000, credit Service Revenue $3,000.
c. Debit Accounts Receivable $3,000, credit Cash $3,000.
d. Debit Service Revenue $3,000, credit Accounts Receivable $3,000.
114. A company received a bill for newspaper advertising services, $400. The bill will be paid in 10 days. How would the transaction be recorded today?
a. Debit Advertising Expense $400, credit Accounts Payable $400.
b. Debit Accounts Payable $400, credit Advertising Expense $400.
c. Debit Accounts Payable $400, credit Cash $400.
d. Debit Advertising Expense $400, credit Cash $400.
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