Question: value: 1.00 points A credit entry will: O increase a liability account. O increase an expense account. decrease paid-in capital. O increase an asset account

value: 1.00 points A credit entry will: O increase a liability account. O increase an expense account. decrease paid-in capital. O increase an asset account

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

A credit entry will: A) Increase an asset account B) Increase an expense account C) Increase a revenue account D) Decrease a liability account

I was working on a quiz for my accounting class and I got a few questions wrong. I was trying to put together what I did wrong and was hoping someone could explain what the corrects. Question 1: A...

4 Socratic .II LTE 11:39 PM CB) 34% [Jr 11. June 30, 2017 NoDirt paid $1,500 in cash to the employees for work performed during the month ofJune. Account Name Debit Credit A. Wages Expense 1,500...

Which of the following can be used to place capital investment proposals involving differe on a comparablas bas for purposes of net present value analysis? A Price - level index. B Present value...

Yard Spray Inc. develops and produces spraying equipment for lawn maintenance and industrial uses. On January 31 of the current year, Yard Spray Inc. reacquired 19,600 shares of its common stock at...

Page 11 21. The best place to look in a company's accounting system, if you wanted to see all of the accounts tlected by a transaction, would be? The General Journal B. The General Ledger C. A Trial...

21. The best place to look in a company's accounting system, if you wanted to see all of the accounts affected by a single transaction, would be? A. The General Journal B. The General Ledger C. A...

An adjusting entry for bad debts will generally increase an expense account and increase a liability account. increase an expense account and decrease an asset account. increase an expense account...

An adjusting entry for bad debts will generally O increase an expense account and increase a liability account. O increase an expense account and increase a contra-asset account. O increase an...

A debit entry will: A) Increase a liability account B) Increase a revenue account C) Decrease an expense account D) Increase an asset account.

Find the Y parameters for the network infigure. Z1

In addition to state-of-the-art technologies, the production of quality wine is strongly influenced by the natural endowments of the grape-growing region-called the "terroir." The Economic Journal...

What is the formula for calculating Cost of Goods Sold (COGS)? Group of answer choices COGS = Purchases + Ending Inventory - Beginning Inventory COGS = Revenue - Expenses COGS = Beginning Inventory +...

Hypothesis Testing of a Single Mean LCTCS Tuition: Louisiana Community And Technical College System consist of 2 community colleges across the state. I think RPCC's tuition and fees is lower than the...

Visit a business in your community and ask how the business uses recommendation letters when hiring new employees. Are there specific qualities, positive or negative, that the business uses to select...

Are the objectives the same for all three stages of collection messages? Explain your answer. (Objective 5)

Rewrite the following opening sentences of persuasive messages to attract the receivers attention. You may use any appropriate attention-getting technique identified in the chapter to make these...