Rules of debit and credit

Assignment Help Accounting Basics
Reference no: EM13144954

Which pair of accounts follows the rules of debit and credit, in relation to increases and decreases, in the same manner?

a) Accounts Payable and Rent Expense

b) Repair Expense and Notes Payable

c) Prepaid Insurance and Advertising Expense

d) Service Revenues and Equipment

Reference no: EM13144954

Questions Cloud

Journal entries to record these liquidation transactions : Prepare journal entries to record these liquidation transactions and prepare journal entries to record the preceding transactions on the assumption that the bonus (or no revaluation) method is used.
Probability average length of steel from sample is more : Standard deviation of 1.4 inches. What is the probability that the average length of a steel from a sample of 36 is more than 27.65inches long?
What is the apparent mass of a protein having a mobility : The relative electrophoretic mobilities of a 30- kd protein and a 92- kd protein used as standards on an SDS- polyacrylamide gel are 0.80 and 0.41, respectively. What is the apparent mass of a protein having a mobility of 0.62 on this gel?
Explain the flask and its contents weigh : An empty Erlenmeyer flask weighs 261.9 g. When filled with water (d = 1.00 g/cm3), the flask and its contents weigh 465.2 g. What is the flask's volume in cm^3?
Rules of debit and credit : Which pair of accounts follows the rules of debit and credit, in relation to increases and decreases, in the same manner?
Find probability that the consumer use a plastic card : U.S Census data show that 14% of the consumer population is 18 to 24 years old. Given the consumer is 18 to 24 years old, what is the probability that the consumer use a plastic card?
What is the new volume of the gas : If I initially have a gas at a pressure of 12 atm a volume of 23 liters, and a temerature of 200k, and then I raise the temperature to 14 atm and increase the temperature to 300k, what is the new volume of the gas ?
What is the frequency of the trait in females : If an X-linked recessive trait is present in 4% of the males in a mammal population with random mating, what is the frequency of the trait in females? What is the frequency of carrier females? Hint: A cross-multiplication square is useful for this..
What is the membrane around the thyroid called : What do we call a cluster of chlorophyll molecules found inside the thyroid.

Reviews

Write a Review

Accounting Basics Questions & Answers

  Amount of gain or loss on the sale

An investor purchased 500 shares of common stock, $25 par, for $21,750. Subsequently, 100 shares were sold for $47.50 per share. What is the amount of gain or loss on the sale?

  Problem regarding investment opportunity

Patrick Seeley has $2,400 that he is looking to invest. His brother approached him with an investment opportunity that could double his money in four years. What interest rate would the investment have to yield in order for Patrick's brother to de..

  Time value of money for tax refunds

Should you over pay taxes throughout the year and get a refund, knowing the government does not pay interest on the overpayment? Use time value of money to explain.

  What consolidation worksheet entry would be made

when a company applies the partial equity method in accounting for its investment in a subsidiary and initial value, book values, and fair values of net assets acquired are all equal, what consolidation worksheet entry would be made?

  Computing contribution-margin ratio

a. Compute the selling price per unit. b. Compute the contribution-margin ratio.

  Amount of sales to receive bonus

The president of Jackson Corporation will not receive a bonus next year unless the company's profits are at least $435,000. Jackson sells a single product at a price of $27 per unit. If variable costs are $12 per unit and fixed costs total $150,00..

  Gross income-constructive receipt of income

Which of the following is not considered actual receipt or "constructive receipt" of income in the current year? Which of the following does not have to be included in gross income?

  Exchange of lands-taxation

Lab Kennels, Inc. and Wolman Developers have agreed to exchange two parcels of land and each will assume the other's mortgage on the parcel acquired. Lab owns 500 acres within city limits that has a value of $750,000 and a basis of $300,000.

  Statements concerning net working capital

Which one of the following statements concerning net working capital is correct?

  Environmental attorney for raymond

In May of 2009, Raymond Financial Services became involved in a penalty dispute with the EPA. At December 31, 2009, the environmental attorney for Raymond indicated that an unfavorable outcome to the dispute was probable.

  What impact might this have on gross margins

What is the difference between the auditor's approach in verifying sales returns and allowances and sales? Why is there a difference?

  Stock in red corporation

On September 3, 2009, Able purchased S 1244 stock in Red Corporation for $6,000. On December 31, 2009 the stock was worth $8,500. On August 15,2010 Able was notified that the stock was worthless. How should able report this item on his 2009 and 20..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd