Multiple Choice
Match each of the numbered transactions of a corporation with Effect of Transaction indicating the debits and credits to be made (give the debit first)
-Paid rent for the current month
A) Debit an asset
B) Credit an asset
C) Debit a liability
D) Credit a liability
E) Debit common stock
F) Credit common stock
G) Debit dividends
H) Credit dividends
I) Debit revenue
J) Credit revenue
K) Debit expense
L) Credit expense
Correct Answer:

Verified
Correct Answer:
Verified
Q3: As of December 31, 2019, the Balance
Q4: Regardless of the business activity recorded, the
Q5: Assume December 31 is a Wednesday. Wages
Q6: The Cash T-account has a beginning balance
Q7: Which of the following accounting cycle steps
Q9: One reason for preparing a trial balance
Q10: Assume December 31 is a Monday. Wages
Q11: A customer received and then paid a
Q12: Listed below are several accounts of Moyer
Q13: Which of the following accounts normally has