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Match the Classifications Below with Accounts Below

Question 39

Matching

Match the classifications below with accounts below.

Premises:

Responses:

Common Stock

DL - Debit balance in liability classification

Notes Payable

CL - Credit balance in a liability classification

Stock Dividend Distributable

DOE - Debit balance in an owners' equity classification

Dividend Payable

COE - Credit balance in an owners' equity classification

Discount on Notes Payable

Premium on Notes Payable

Treasury Stock

Preferred Stock

Paid-in-Capital in Excess of Par

Paid-in-Capital from Treasury Stock

Premises:

Common Stock

Notes Payable

Stock Dividend Distributable

Dividend Payable

Discount on Notes Payable

Premium on Notes Payable

Treasury Stock

Preferred Stock

Paid-in-Capital in Excess of Par

Paid-in-Capital from Treasury Stock

Responses:

DL - Debit balance in liability classification

CL - Credit balance in a liability classification

DOE - Debit balance in an owners' equity classification

COE - Credit balance in an owners' equity classification

Correct Answer:

Premises:

Responses:

Common Stock

Notes Payable

Stock Dividend Distributable

Dividend Payable

Discount on Notes Payable

Premium on Notes Payable

Treasury Stock

Preferred Stock

Paid-in-Capital in Excess of Par

Paid-in-Capital from Treasury Stock