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A journal entry has only two lines a increase in

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129.A journal entry has only two lines: a) Increase in Owners' Equity b) Decrease inRevenue.a) is a CR and b) is a DR so the entry is valid130.Which of the following accounts would normally have a credit balance?Accounts Payable, Service Revenue, Common Stock.131.A journal entry has only two lines: a) Decrease in a Liability, b) Decrease inOwners' Equity.a) is a DR and b) is a DR so the entry is NOT valid132.For a journal entry with only two lines, the following entry is valid:Increase in an Asset, Decrease in Dividends.True133.A journal entry has only two lines: a) Decrease in Owners' Equity, b) Decrease inDividendsa) is a DR and b) is a CR so the entry is valid134.For a journal entry with only two lines, the following entry is valid:Decrease in one Revenue, Decrease in another Revenue.False135.For a journal entry with only two lines, the following entry is valid:Increase in Liability, Decrease in RevenueTrue136.For a journal entry with only two lines, the following entry is valid:Decrease in Liability, Increase in DividendsFalse137.Whenwritingformal journal entriesDebits are on top, Credits are on the bottom138.The Accounts Payable account has a beginning balance of $15,000 and thecompany purchased $40,000 of supplies on account during the month. Theending balance was $20,000. How much did the company pay to creditors during themonth? (just type numbers)
139.A journal entry has only two lines: a) Increase in one Expense, b) Decrease inanother Expense.
140.A journal entry has only two lines: a) Increase in one Liability, b) Increase in asecond Liability
141.For a journal entry with only two lines, the following entry is valid:Increase in one asset, Increase in a second asset.
142.A journal entry has only two lines: a) Increase in Owners' Equity, b) Decrease inExpense

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Term
Fall
Professor
widman
Tags
Double entry bookkeeping system, following entry

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