Question 15 Decrease Supplies with a: Debit Credit 4 points Question 16 The acco

Question

Question 15

Decrease Supplies with a:

Debit

Credit

4 points   

Question 16

The account classification for Consulting Revenue is:

Asset

Liability

Equity

Revenue

Expense

4 points   

Question 17

Equipment would appear on the:

Balance Sheet

Income Statement

Statement of Owner's Equity

4 points   

Question 18

Increase Notes Payable with a:

Debit

Credit

4 points   

Question 19

Increase Sales Tax Payable with a

Debit

Credit

4 points   

Question 20

Decrease Premium on Bonds Payable with a:

Debit

Credit

4 points   

Question 21

The normal balance for Supplies is:

Debit

Credit

4 points   

Question 22

Decrease Cash with a

Debit

Credit

4 points   

Question 23

Owner Withdrawals would appear on the:

Balance Sheet

Income Statement

Statement of Owner's Equity

4 points   

Question 24

The normal balance for Owner Withdrawals is:

Debit

Credit

4 points   

Question 25

The normal balance for Interest Expense is:

Debit

Credit

4 points   

Debit

Credit

Explanation / Answer

1. Decrease Supplies with a: Debit

2.The account classification for Consulting Revenue is: Revenue

3.Equipment would appear on the: Balance Sheet

4.Increase Notes Payable with a: Credit

5.Increase Sales Tax Payable with a : Credit

6.Decrease Premium on Bonds Payable with a: Debit

7.The normal balance for Supplies is: Credit

8.Decrease Cash with a : Credit

9.Owner Withdrawals would appear on the: Balance Sheet

10.The normal balance for Owner Withdrawals is: Debit

11.The normal balance for Interest Expense is: Debit

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