Question 10 of 20 00 50 points a debit balance is a

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  • EXAM 3
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Exam 3

Question 10   of 20 0.0 / 5.0 Points A debit balance is a normal balance for which type of account ?
A. accounts payable
B. revenue
C. accounts receivable
D. owner ’s capital
Question 11   of 20 5.0 / 5.0 Points An asset would be debited and a liability credited if __ _ _ ______.
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Question 13   of 20 5.0 / 5.0 Points An account is said to have a debit balance if __ _ _ ______.
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Question 14   of 20 5.0 / 5.0 Points A category that is not in the chart of accounts is __________.
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Question 15   of 20 5.0 / 5.0 Points The beginning balance in Cash was $ 3,500 . Additional cash of $ 2,000 was received . Checks were written totaling $ 2,500 . The cash balance is __________.
A. $ 2,000
B. $ 6,000
C. $ 4,500
D. $ 3,000
Answer:  D.   $ 3,000
Question 16   of 20 5.0 / 5.0 Points Which of the following types of accounts has a normal credit balance ?
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Question 17   of 20 5.0 / 5.0 Points When recording transactions in two or more accounts and the totals of the debits and credits are equal , it is called __________.
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Question 19   of 20 5.0 / 5.0 Points Accounts Payable had a normal starting balance of $ 800 . There were debit postings of $ 600 and credit postings of $ 300 during the month . The ending balance is __________.
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Question 20   of 20 5.0 / 5.0 Points The owner of BobCats R Us paid his personal Master Card bill using a company check . The correct entry to record the transaction is __________.
A. credit Cash ; debit Capital
B. credit Cash ; debit Supplies Expense
C. credit Cash ; debit Withdrawals
D. credit Cash ; debit Accounts Receivable
Answer:  C.   credit Cash ; debit Withdrawals
Question 10 of 20 0.0/ 5.0 Points A debit balance is a normal balance for which type of account? A. accounts payable B. revenue C. accounts receivable D. owner’s capital
Question 11 of 20 5.0/ 5.0 Points An asset would be debited and a liability credited if __________.
Question 12 of 20 5.0/ 5.0 Points Office Supplies had a normal starting balance of $75. There were debit postings of $80 and credit postings of $60 during the month. The ending balance is __________.
Question 13 of 20 5.0/ 5.0 Points An account is said to have a debit balance if __________.
C. its normal balance is debit without regard to the amounts or number of entries on the debit side D. the last entry of the accounting period was posted on the debit side Question 14 of 20 5.0/ 5.0 Points A category that is not in the chart of accounts is __________. A. assets B. liabilities C. cash flows D. revenue

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