BUSPROG: Analytic All of the following accounts are increased with a debit except Unearned Revenues Land Accounts Receivable Cash a ANSWER: Easy DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Which of the following owner’s equity accounts follows the same debit and credit rules as liabilities? expense accounts only drawing accounts only revenue accounts only expense and drawing accounts c ANSWER: Challenging DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.02 - GAAP ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic The payment for the monthly rent will require which of the following entries? debit Cash and debit Rent Expense credit Cash and credit Rent Expense debit Rent Expense and credit Cash credit Rent Expense and debit Cash c ANSWER: Moderate DIFFICULTY: Bloom’s: Remembering ACCT.WARD.16.02-02 - 02-02 LEARNING OBJECTIVES: ACCT.ACBSP.APC.06 - Recording Transactions ACCREDITING STANDARDS: ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic
BUSPROG: Analytic All of the following accounts are increased with a debit except Unearned Revenues Land Accounts Receivable Cash ANSWER: a DIFFICULTY: Easy Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic Which of the following owner’s equity accounts follows the same debit and credit rules as liabilities? expense accounts only drawing accounts only revenue accounts only expense and drawing accounts ANSWER: c DIFFICULTY: Challenging Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.02 - GAAP ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic The payment for the monthly rent will require which of the following entries? debit Cash and debit Rent Expense credit Cash and credit Rent Expense debit Rent Expense and credit Cash credit Rent Expense and debit Cash ANSWER: c DIFFICULTY: Moderate Bloom’s: Remembering LEARNING OBJECTIVES: ACCT.WARD.16.02-02 - 02-02 ACCREDITING STANDARDS: ACCT.ACBSP.APC.06 - Recording Transactions ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic
Test-Bank-for-Accounting-26th-Edition-by-Warren.docx