Multiple Choice
An owners' investment of land and a building into the business would include a:
A) debit to Land and a credit to Common shares
B) debit to Land and a credit to Building
C) debit to Common shares and a credit to Building
D) debit to Building and a debit to Common shares
Correct Answer:
Verified
Correct Answer:
Verified
Q22: A credit always decreases an asset account.
Q42: The accounting transaction to record payment of
Q43: A credit decreases the balance of which
Q44: From the following list of transactions,prepare a
Q45: The normal balance of the Common Shares
Q46: Where is information for each account stored?
Q49: The entry to record the purchase of
Q51: The right side of a T-account is
Q52: The purchase of office equipment for cash
Q71: Prepaid rent is an expense because the