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Author Question: Which of the following accounts is decreased with a credit entry? A) Common stock B) Accounts ... (Read 70 times)

Davideckstein7

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on: Jul 5, 2018
Which of the following accounts is decreased with a credit entry?
 
  A) Common stock
  B) Accounts payable
  C) Accumulated depreciation
  D) Inventory

Question 2

Ink, Inc. has the following accounts with normal balances on its adjusted trial balance after its first year of business.
 
  Cash  400
  Accounts receivable 200
  Insurance expense 100
  Equipment 800
  Accumulated depreciation 100
  Depreciation expense 100
  Sales 1,000
  Wages expense 400
  Common stock 1,000
  Dividends 100
 
  How much is the debit column total on the adjusted trial balance?
  A) 2,600
  B) 2,400
  C) 2,100
  D) 1,400


ebenov

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Reply #1 on: Jul 5, 2018
Answer to Question 1

D

Answer to Question 2

C


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