Multiple Choice
When computing the normal balance of an account:
A) salaries expense should have a credit balance.
B) accounts payable should have a credit balance.
C) equipment should have a credit balance.
D) notes payable should have a debit balance.
Correct Answer:
Verified
Correct Answer:
Verified
Q153: In transaction analysis,the declaration and payment of
Q154: The accounts of Yardy Company are as
Q155: The double-entry system of accounting records the
Q156: A company paid $3,000 for supplies that
Q157: A business paid $50,000 cash to purchase
Q159: A business paid $2,500 on account.The journal
Q160: The purchase of equipment,involving a cash down
Q161: A company received cash in exchange for
Q162: Posting is:<br>A)copying the information from the journal
Q163: Common stock and retained earnings are increased